numbers are out from bhp. positive, up by nearly 1%. is also up nicely. bhp is up by around 1%.ton has joined us on set. miners sound -- confident to you? colin: we saw the gas ceo who of the mining- industry is still suffering from the overinvestment timeframe we had. why do i invest here? derivative is getting better. commodity markets are no longer getting worse. we are in negative supply growth , copper is an exception, chinese demand has surprised to .he upset -- upside the question is the sustainability. we are comfortable that china growth during their political transition. more commodity intensive favoring growth. beyond that, that is when the question marks start to appear. are you anticipating consolidation in this area? capital expenditure is being pulled back. --we are moving towards territory for many of them. there is money to be put to work but there is still caution. mining companies themselves, we have seen a raft of changes of ceos. they don't want to make those mistakes again. there is some caution there. i think it will be a slow process. -- are being asian l

it is going to be a pretty sobering result to bhp.ne consolation they can probably take is this should be as bad as it gets. that profitsare will begin to rise again. manus: a lot of this will be inextricably linked where you think that rally in iron ore can go. inis all about the guidance terms of what the market thinks it can earn as we go forward and in terms of what they say to us for the current financial year, isn't it? saw bhp downgraded its expectations on china's steel production peak. that is key to bhp because it feeds into the bottom line for iron ore also. people will be looking to see what the ceo says about the outlook in china. if it is like rio tinto earlier month,ri it will noto be so encouraging. says they remain incredibly wary on chinese demand. major mining companies, they are not relying on the repeat boom for china the last decade. there is growth on the horizon from places like india and indonesia. that could lift profits. it is not going to be on the same scale. is continuing to reduce costs and hoping that c

david: this should be as bad as it gets for bhp.rly dire results. things like asset sales and share sales. not something that they contemplated before. cuts and dividends. the things from here on in should improve. all prices are stabilizing. the outlook from here on it is more positive. in subsequent years to the end of this decade. this should be the lowest point. for bhp. rishaad: where does future demand come from? they can't rely on another demand boom from china. david: that's exactly right. it'll be interesting to hear some more of that from the company this afternoon. previously bhp analysts had spoken about the rebound coming first in gasoline and oil. and then leading to other commodities. looking at the u.s. energy market for demand as well as renewable energy. are right, there is no other channel on the horizon. they reported their own decline in profits earlier. they remain very cautious and very wary on the outlook for china. rishaad: ask a lot for that. thanks a lot for that. colony capital chairman of the long-time f

bhp billiton, shares up 4% today.hey are emerging from the worst come on at a price slump in a generation, underlying profit jumping 95%. we have seen a rebound in commodity prices since january. since the multi-decade lows. the second quarter was the best corner since 2010. they will likely market low point for the producer with a rebound in prices and higher output this year according to peter o'connor, a sydney-based analyst with sure partners. 9%,es earlier up as much as the most since february, this is a copper miner owned by chile's wealthiest family. they announced an interim dividend of 3.1% per share. this chart. january 20 is when european miner stocks fell to the lowest level since 2003 and it is great to see how they fared since. anglo american 303% higher since then. billiton 80% higher. a big piece of economic data today in the u.k. was inflation. cpi, the blue line, they were expecting .5%. sterling is very much evident on the ppi. let's put it in perspective, producer prices have fallen for the last 32

speaking of bhp billiton, they reported a while ago.e you a taste of the three charts you need to know. this is the net income. at can see it coming down 81%. look at how closely it attracts iron ore. ton, -- in some ways, as iron or goes, so does net income. we will be discussing more with the bhp ceo. jonathan: we can do that now. joining us is bhp billiton's ceo andrew mackenzie. thank you for joining us. let's start with the numbers. by some metrics, the worst number since 2001 for the company. the stock reacted positively. is the worst over from an earnings and dividend perspective? i think for a while, but we live in a very uncertain world. it is important to put those numbers and respect to. wasmajority of the loss from the stock market disaster for the evaluations of our u.s. shale business and some taxation matters. but when you look through that, you see a strong underlying performance. that is what the market is signaling. the balance sheet is strong. we have reduced costs by 16% in the year. we have done that by being have t

with a company like bhp in the whole sector is in the past whenever price haves rallied and will they've made more money, they've gone out and done big acquisitions. right down as commodity prices turn. that's really happened every cycle in the last three or four cycles. if you believe that b hp is going to be capital discipline for the next 20 years. maybe it's good value. given the last two, three, four cycles. that's hard to -- a rational investor would question that. >> do you think this is a turning point for them? >> i don't think there's anything different today than has been the case in the past. >> three year process, moving on: nick, great to chat with you. equity analyst at brun dolphin. >>> i'll be speaking to ceo to talk through all of the points later on today. george sar ris has become more bearish on equity markets. nearly doubling short bet in the s&p 500. he now holds put options on roughly ll lly 4 million shares etf. the man known for breaking the bank of england and making a fortune betting against sterling has also sharply lowered gold holdings. another big name, an

a record loss today, bhp says it lost more than $6 billion in the last year. that is the worst annual performance in the company's history. earlier this year, bhp actually took a $2.2 billion hit related to november's dam accident, the disaster killing 19 people and causing one of the worst environmental disassers tears in brazil's history. >> the justice department has found evidence of criminal misconduct by volkswagen during the handling of its diesel emissions fiasco. prosecutors have not specified what the criminal charges will be, but they do hope to reach a settlement with the every man automaker. volkswagen has agreed to pay more than $17 billion for civil settlements but will face a of the criminal case. >>> a new tourist attraction is hoping folks will travel more than an hour from the valley for an experience that you won't find anywhere else. 13 action news reporter takes us inside camel is safari. >> good boy. good boy. >> >> you can kiss them all behind the ears. they're very affectionate. it's how you raise them and how you treat them. >> report

shares down the most in almost two months at bhp billiton. the last day of august, a look at your emerging-market asset classes. three of them over the month of august, how have they done? the white line is stocks, purple ise are bonds, blue currency. and as you can see, they have not done that bad this august. emerging markets, at least when you compounded, do not get that excited, 3% for the month of august. not so bad on an annualized basis. the purple line, sovereign bonds, just under 2%. and currency basically flat. of course, the concern is that as the u.s. raises rates that would take money out of emerging markets, but that is not exactly what we are seeing here. i talked to one strategists who going onlook, what is is that people think rates will be lower longer and that will support emerging markets. not just equity markets but all asset classes. back to you. manus: a question of how much tolerance the market has to hold on to those rate hikes and continue to buy em. let us talk about the federal reserve. stanley fischer said negativ

bhp bil as markets come back into balance, they may trade more on the back cap. why when we look at carbon prices we predict we would deliver $7 billion of free cash flow this year, which will be the highest cash flow yield since they were formed in the company through merger since 2001. we have a very strict capital allocation that we used to determine. since --rst and instance we will look after maintenance capital. we have a dividend we pay up 50% of the underlying attributable earnings. then it is much more of a choice. an additional dividend. i think the preference going forward is to continue to pay debt. not to the extent we would not to use the opportunity, tragically was $7 billion to make good on the commitment to increase cash returns to the shareholders and look after very long-term growth plans for the economy. plane outlined a six-point to grow the value of the company at the prices that existed then by nearly 70%. that is something we want to continue funding. >> i sat down with the ceo of rio tinto. we talked about the possibility of m&a activity.

bhp says it has never put production ahead of safety.g 11% in the first due to china's general slowdown and bad beer drinking whether, net income for the second biggest brewer was $150 million. the china summer was cooler than usual and the worst flood since 1998. new products and growing international resins are making competition fears. south korea offered reasons for optimism, smashing expectations in july. industrial reduction rose 1.4% on the month. industrial production rose 1.6% year on year. next, we are watching how icbc and bank of china trade in premarket after their latest earnings. this is bloomberg. ♪ we are getting some pre-market moves in those big chinese banks. when you see? juliette: not just the banks, ,ut also china evergrande looking like the biggest mover and hong kong, falling for point 2%. its debt soared in the first half, but still open to buying brokerage and trust companies, pushing ahead with spending plans. icbc looking like it could fall by .8%. it rose 1% yesterday. it is dumping its that debt faster than

bhp reported a record full-year loss of $6.4 billion, but toerlying profit jumped 95% $803 million. shares rose in london trade after the announcement, up 38% so far this year. andrew mckenzie telling bloomberg that a lot of longer-term the you investors are buying back into this blue-chip stock. rishaad: coming up on "trending business", google taking aim at facebook and apple. just ahead, new comments from , doubt on whatls the doves have been saying. ♪ rishaad: you are back with "trending business". what's happening with markets and analysis. watch, fedn on fed officials being pretty hawkish. did not definitively say when they are going to move. >> this is an open question. towardsets have shifted december. it is an interesting scenario because what we are starting to was the buildup of inflation pressure in the u.s., making people questioning as to whether we would be back on the table with september. the truth is we have seen from the proprietary data we look at, a bit of a slowdown in terms of price pressures. we had the q2 gdp print, which was not supportive of another immine

what is interesting about bhp, they are quite bullish in china.y're expecting the government to keep gdp between 7%. relative to the economic community, that is quite a bullish outlook. francine: what is your take? rupert: it comes down to china for most of these commodities. they are significantly more cautious and we had a bit of a bounce. and -- that looks unsustainable, the housing market. we are still seeing over the medium-term this steady downward trend in china. in that environment, it is going to be difficult for these -- for the chief executive sounds bullish about the medium-term. it is hard to see that story personally. one, the we had glencore chief executive sounding bearish. are we going to see more consolidation? radio is probably the most consolidated industry group. >> in terms of the large-cap companies, they have had varying degrees of success. lots of people want to sell assets. very few people are willing to pay the price. we have a complete disconnect it between valuations. nothing substantial. francine: group, what is your

bhp billiton says full-year earnings fell 81%. it is bhp's first result since 2001.odities fell to about half their peak from five years ago. the company sees a brighter long-term out put from copper and oil. openinge next step for china international investors are chinese regulars have approved the long-awaited stock trading link between hong kong and the city of shenzhen on the mainland. overseas investors -- that is your "bloomberg business flash." francine, you have more on this shenzhen story. francine: it is only quite significant because we have been waiting for a for a a while. it is something that has been waiting to be opened up, but it is a sign that they are trying to attract foreign investment. happen in 2015 because of the volatility we saw in chinese currency. i want to show you the offshore yuan, renminbi. , just because it has been flagged for a long time, and chinese authorities still proposede planning aggregate on training -- on trading. tom: dean curnutt is with us with macro risk advisors. and finally, we have dragged him off madison avenue. oli

now, the market drop had nothing to do with bhp bilton getting slashed and burned and then turning aroundw-dropping record losses of $6.4 billion, due in part to a multibillion dollar settlement for what we're about to show you. but then the miner gave a better outlook, so the stock is slightly higher by 1.5%. there was that deadly mining accident in brazil last november. nineteen people died, scores wounded when a dam broke, releasing sludge that was due in part to that company, but also bhp bilton. so there had to be a huge settlement. that is pretty much what has to do with the record loss. we also have six brokerages cutting their target on the organic food giant, getting crushed by 26%. they had to delay the release of their fourth quarter earnings results due to an internal probe into accounting. so as they figure that out, shares are not waiting for that moment. we have the bulls turning tail, we have the bears jumping on that stock. if you own dick's sporting goods, you're dance anything the bleachers. the company reported an unexpected rise in second quarter same-store sales, jum

. >>> meantime, bhp ceo will not receive a bonus this career.n annual loss. federal prosecutor said brazil is set to decide whether to decide bhp executives in connection with the accident in coming weeks. >>> how's your memory? >> it's okay, i guess. how's yours? >> depends. it goes down as we get older. >> if i write things down i tend to remember more. a lot of things look up stuff and use your memory space for other sg other. >> i'm good with birthdays. bad with other numbers. >> i'm good with five numbers. that's it. >> happy birth whenever it is. >> we need to take a short break. check out world markets live. it's our blog. runs throughout the trading day. find loads on there. find carp lynn on twitter. myself on twitter. see you in a couple of minutes. >>> welcome to "street signs." your headlines this morning. >>> buying the rumor higher on a roort. deutsche bank is considering a merger or had considered a merger in the bast. ceo says the deal is not an option. >>> a boost for boig telecom's arm. increase in first half profits. >>> the b

christoph: corporate news, bhp posted the biggest loss in the company's history. what happened?ell, we could pretty much see that nothing really went well. for one, there are the following commodity prices for oil, for gas, for iron ore and copper. that was certainly a bumper on earnings. but also november of last year, also within this fiscal year, there was the collapse of a dam in brazil. that also put pressure on earnings and on top of it, the company placed a bad bet on shale. pretty much everything went wrong that could go wrong. but wall street pretty even worse numbers. the increased despite a loss of nearly $6.5 billion. christoph: thank you. when it comes to sparkling wine, where do you feel your bottle of choice should originate? france, spain, italy? more people in the u.k. are choosing from domestic producers. they have pushed sparkling wine sales by 80% the past five years and it has opened up a whole set of opportunities. reporter: miles of vines as far as the eye can see under beautiful sunny skies, but this is not the south of france. the rich than your is helpi

next up one up, -- next one up, bhp billiton is declining.clining in australia earlier today. still is worth a sense july 6. -- still its worst day since july 6. the other story coming out of bhp billiton, the ceo will not be getting its bonus. he could have gotten as much as $4 billion. you will just have to make do with his $1.7 million pay salary. ad finally, grafton group, big loser on the day, one of the worst-performing stocks on the stoxx 600, down by 8.5%. it's worst day in only two months. they have plenty of bad news there. it is a 1.3 billion pound company. it trades here in the u.k. and filled building materials. they just said trading in june was very weak. do i smell brexit? they say it is too early to say. guy: shopping is more important than brexit, it seems. let's turn to more european politics. mariano rajoy says the nation is that one of its most serious crossroads in history as he looks to secure the support of the socialist party. his allies and opponents will respond today ina a vote taking place at the end of the sessio

do you wanton how tou to know ho be bhp? the average price of the oil they were selling, very big in the shale business down 43%. the average priece of coal, dow 17%. it causes very big problems because they just had a big, big loss, $6 billion, largely on impairment charges. they wrote down nearly $5 billion, so a lot of these oil companies are coming out and saying these assets we're never going to really realize the investment and they're aggressively taking losses. and of course remember they had that terrible disaster with the brazilian dam bursting, that's $7.1 billion. take a look at the stock. you would think the stock would be in trouble, but the stock is up because they were relatively positive. the cash flow is improving, an up-beat outlook overall. the question is where in the bott bottom is the commodity cycle and a lot of people are starting to bet again the first and second quarter were the bottoms in the commodity cycle. home depot, you want to know how a maidi amazing home depot is? we're talking about $26 b

. >>> weak commodity prices and the impact of a deadly mine disaster in brazil called bhp brillaton to post more than $6 billion quarterly loss. the mining firm also reported a deline in revenue and said it would slash its dividend 77% to 14 cents a share. shares were up 30 cents nonetheless to $31.50. >>> and profit and revenue rise at dig's sporting goods, topping expectations. the athletic gear and apparel company said there was less of an impact from the liquidation of rival sports authority than dick's initially anticipated. a better than expected results also prompted the company to lift its full-year guidance. shares for the day up 7% at $58.76. >>> robust foot traffic lifted results at tjx helping the owner of discount stores tj max and marshals to top estimates. those results prompted the company to raise its forecast for the years. shares ini fell on weaker than expected guidance for this quarter. tjx shares were down more than 5.5% to $77.97. >>> activist hedge fund valuac took a stake in morgan stanley. the hedge fund which has called for change at other companies isn't att

we will have commodities tomorrow with the largest mining .ompany bhp billiton you don't want to misslet's get a check of the bloomberg headlines. mark crumpton has more. >> deliberately trying to damage a great neighborhood and a great city after another night of unrest on milwaukee's north side where they were injured in fights with demonstrators. they are upset about the fatal police shooting of a black man. the police chief says smith was shot after he turned toward an officer with a gun in his hand. thousands to flee their homes. the fire is spreading rapidly destroyed more than 175 90 miles north of san francisco. it is one of 11 large wildfires burning in california, fueled by high temperatures and parched conditions brought on by a five-year drought. they are battling on three fronts. least fourilled at people and burned down dozens of homes and charge huge areas of forest. the washington monument has been reopened after being closed for more than a day because of problems with its elevator. the monument reopened as schedule today after closing early saturday night. of alosure

there has been a little pop from bhp billiton, up over .25%.nd that the mine in bral will lease the findings of its probe into that disaster a 2015, the joint venture, so little upside, but more to do with commodity prices. elsewhere, downward pressure from some of the other companies. new zealand still holding on to slight losses. it came through with earnings last week. we will be watching auckland airport, higher by .5% on the open. this after it reported a strong rise in revenue for the full year. we will watch reaction in emerging markets, because we are hearing they are the markets most affected from janet yellen's comments. you could see some downward pressure coming through today and emerging-market stocks and emerging-market currencies. a quick look at commodities at the moment, emerald pressure coming through in the gold price, investors not clinging to safety at this point. we are also seeing the crude price sold off as well. 1%, holding above $47 a barrel. weakness,se yen, giving boost to japanese 101.85, butlding at a volatile sess

bhp billiton is rising. shares are 10% higher. it isn'tnfirmed limitary merger talks with praxair. it has not resulted in any concrete results. the talks are ongoing and earlier we brought you the story. in talks to create what could be the world's largest supplier of industrial gas. the deal could be valued at around $30 billion. bigger market cap, roughly $4 billion more than linda. get to the big piece of economic data. consumer prices rose more than expected, up .6% which is the .hird piece of economic data since brexit economists were expecting .5%. the piece of data that shows the follow-through from the slump in sterling we have seen since brexit is the increase in input prices, tpp input prices up-percent, ending 32 months of consecutive declines. we seeing a feedthrough on input prices. these are the prices that manufacturers are being for materials and energy. they signs of the impact falling pound is having post-brexit on inflation particularly on producer price inflation. let's go to first word news. : hillary. new programs clinton a lead of 52% among voters. shrinks wh

the big one to watch locally will be bhp.rose .7% and the london trade overnight despite a net loss of nearly $6.4 billion, its worst ever. the market agrees that the worst is probably over. a lot of earnings out today. second-quarter earnings. their first announcement since the $8.6 billion acquisition of super cell and cap a specific out of hong kong reporting earnings. net income may be down for cafe by 46%. the airline hit by a fuel hedge loss and possible new landing fees and hong kong as well. that is the fund the new airport expansion in hong kong. a quick look at china. a further example of opening markets. the shenzhen hong kong stock connect. i am paul allen for bloomberg tv in sydney, australia. ♪ emily: this is "bloomerg west." he is one of the leading voices in china's tech community. kai-fu lee.e ceo i asked him what his company is betting on. kai-fu: we are focused on several things. one is we are strong believers in artificial intelligence, in changing the future of china entrepreneurship. artificial intellige

a prosecutor looking at bhp's disaster in brazil says he to propose charges by the end of september.xaminer is examining alleged negligence that may lead to charges of involuntary negligence. nine people were killed when the dam collapsed. ceo andrew mckenzie will lose his bonus, and other executives will have there's reduced. let's check in on trading across the region here in the asia-pacific are you right now, because we are seeing asian stocks rising on the last trading day in the month. over in sydney, though, it is losing out. it is being offset by japanese shares. also seeing losses over and south korea. but if you take a look at the msci asia-pacific, it is climbing just one part of 1%. take a look at hong kong right now -- one third of 1%. take a look at hong kong. it is looking fractionally higher, but it is really the strength of tokyo right now. it is raising its losses for the month. -- it is he raising its losses for the month. the yen25% higher as trades 102.92 to the dollar. the currency and falling for five straight days, helping out exports. a lot more coming up. th

. >> bhp billiton shares are trading lower as one of the top producers is heading into a criminal investigationo last year's collapse in brazil -- last year's dam collapse in brazil. the company says it ceo will not get its 2016 bonus: the disaster. banks a bank -- deutsche -- the german magazine reported on its website that the considerations were "only of a theoretical nature." officials from deutsche bank declined to comment. europe's biggest concert pretty firm are watching bonuses melts. stocks -- a row in that will pay bonuses in the past few years from barclays, deutsche bank -- has voted to file. the move by pungent shipping -- -- thesy and shipping company may need as much as $1.2 billion in cash to rollover debt in the wake of losses in four of the last five years. francine: france's economy minister has resigned and speculation that he will launch a bid to replace the president francois along -- hollande. >> i presented my -- i think them for having trusted me and allowed to serve my country for two years, dedicated to the reconstruction of our economy. withine: let's get more caroli

. >> bhp the largest mining , company has reported an 81% drop in full-year profit.this rock-bottom, is this as bad as it gets? >> that is the consensus. the numbers we are getting this earnings season could represent the trough. we have seen a rebound in the share prices, up 40%. there is optimism in some pockets. generally overall it has been quite a dark two to three years for these companies. >> is the worst over from an earning and dividends perspective? is that the message for investors today? >> for a while. we live in an uncertain world. think it is important to put those numbers in perspective. the majority of the statutory loss was caused by -- we had to take for the disaster, for the valuations of our u.s. business -- u.s. shale business and some taxation matters. into the confidential year, we are looking at a 12% reduction in costs, a 4% uptick in volume, which combined will release further operational productivity gains of $1.8 billion. so we are now in a place where we are continuing almost accelerating in our cost-cutting while our prices have stabili

bhp billton. upgraded to buy from hold at jeffreys.ow and growth potential. >> top trending stories this morning, hillary clinton is brushing off renewed questions about her health. just a guest on jimmy kimle live. donald trump has questioned her stamina at campaign rallies and at speeches and former mayor ru rudy giuliani saying she just looks sick. she says the comments make no sense. she doesn't question trump's health. >> please welcome, hillary clinton. >> she was trying to make fun of the fact people were making fun of her health. >> didn't she ask jimmy to take her pulse or something. >> just to check. >>> golf cart car owe key. a viral video alert here. indiana state trooper driving along lip singing to greece. ♪ ♪ >> summer loving, had me a blast ♪ ♪ summer loving happened so fast ♪ ♪ i met a girl, crazy for me ♪ met a boy cute as can be >> they are some troopers in indiana. >>> amazon also stepping up music game, speaking of music. in talks to launch a music s subscription service. only work on amazon's echo hardware. there'

. >>> bhp reporting a record $4.6 billion annual loss. hu the company did say it expects free cash flow to more than double this year, which is allowed shares to rally almost 4%. con choe expands basen. that is off a little bit in the premarket. >>> williams is expanding the board. this comes after two months of six directors quick after following a takeover from energy transfer equity. >> when we come back, tim cook the ceo of apple is back in china today. tell you what he's up to in his second visit in the last three months. a live report from beijing next. >>> welcome back to "world wide exchange." if you're just getting up, let's get yo up to speed on the market action. basically flat in the premarket again today. all be it a little bit of red on the streen t. dow expected to opener lower around 16 points. lets have a look at oil because in this light volume trading we've seen through august, oil has been one of the key factors to watch. it was stronger yesterday. that helped the energy sector once again. it was softer in earlier trad

. >> bhp, the largest mining in 81% dropreported in for your profit. to headlines, is this rock-bottom as bad as a gift? >> i think that is a consensus forming in the market. the numbers we are getting this earnings season could represent the trough. this year, we have seen a big rebound in the share prices, a 40% so there is some optimism there in some pockets. generally, it is been a quite dark two to three years for these companies. is that the message for investors today, the dividends perspective? >> i think it is important to put those numbers in perspective. the majority of the statutory loss was caused by the right turn we had to take the smartphone disaster, but evaluation of our u.s. shield business in some -- shale business and some taxation matters. into the confidence or your, we are looking at a 12% reduction in costs, a 4% uptick in volume which combined will release further operational productivity gains of $1.8 billion. we are now in a place where we can continue celebrating intercompany while our prices have stabilized and kicked up a

bhp says it lost $6.4 billion from june of 2015 to june of 2016. the company settled with the brazilian government to pay up to $7.5 billion over the disaster. it still faces a civil lawsuit. >>> raleigh city officials want you to learn more about three project areas for the future of downtown. the new downtown plan identifies three areas where the city owns property. tonight, you can find out how the city plans to leverage these assets and where you can bring your ideas to the table. the meeting will be at the chavez center on martin luther king boulevard 6:00 to 8:00 pat mccroy. >>> let's look at stocks today and see how they are doing. the dow is off by 52 points. nasdaq is down 23. business news go to wral.com and click on business. >>> broadway hit newsies comes to durham today. durham per harming arts center will celebrate an attendance milestone. three million guests. guest number 3 million will be given a $1,000 gift certificate forup coming shows. it opened in 2008 musicals, plays, comedies and musical acts. >>> day 11 of the olympic games

we have miner, bhp billiton. that is interesting story. $69 was the high.i like dividend, 5.6%. >> higher dividends, lower valuations, what investor is supposed to do, buy low, sell high. we like global high dividend payers that have big brands and big free cash flow. three names i gave you, combined free cash fly, $20 billion. liz: take you any day, sean. >> love being here. liz: appreciate you being here. sean o'hara. market heading towards a mixed close. [closing bell rings] i need to stress this is light trading day. dow below average. is david back? and melissa francis. "after the bell." david: stocks are sinking for the second straight session. nasdaq is the only major average able to eke out any gains today. i'm david asman. good to back. melissa: welcome back. we missed you. david: thank you. melissa: i'm melissa francis. this is "after the bell." we have you covered on the big market movers. here is what else we have for you this hour. more clinton email fallout. documents show foundation donors may have gotten special access as the head of clinton

today with your thoughts on the markets. >>> now to one of the biggest losers of the day and it is not bhp. we have established that. hain celestial after releasing a delay in the earnings report. susan? >> delaying the release owing to accounting issues and looking into their internal audit controls which has investors thinking what other problems will be found? what are these accounting issues? stem from concessions to certain u.s. distributors they use and whether you count the revenue when products are shipped to you or when the distributors sell the goods on to customers and the maker of earth's best organic baby food and juice now has until september 13th to file the report. separately, also said that its fourth quarter sales and profit missed the guidance and also weighing on the shares today and should be noted that earnings and accounting are two separate issues here. a number of brokerages this morning downgrading the stock except jp morgan reiterating its outperform call and speaking to the ceo simon and he said that earnings may or may not have to be restated. and confident tha

. >>> bhp ended yesterday's session higher.g investors with cost cutting nichetives. also told cnbc that commodity prices have begun to stabilize. >> prices have been falling quicker than we've been able to cut our cost, but now we're finding our costs are coming up faster and prices are more stable. it's hard to know whether they'll stay that way, but we expect they'll trade pretty much in the range they've traded over the last six months and as markets start to come back into balance and we're seeing signs of that, they'll trade closer to the higher part of that range than the lower part of that range. with the strength of our balance sheet and continuation of productivity momentum, we can whether something that may turn out worse than that. >> let's get a wrap up on the asian session. >> reporter: great deal of conviction, i'm afraid. it's down to the fact that, yeah, the market seems to be pricing in that we could very well see a september rate hike before the year is done e. and we heard as much by new york fed president b

sam and laura, bhp said its business is $6 billion, billion, $6 billion in the hole for the year.t's a mining company. one of the problems is the demand for coal is falling. i bring this up because it re-enforces something we've been talking about. politicians saying they're going to bring back the american coal industry. the problem is coal's competitors, mostly natural gas, is just super cheap. you can't make money on coal no matter what you promise to do. >>> let's talk about voegs wagon. criminal charges may be in store for the company and some executives. this after volkswagen got caught cheating. this could mean jail time for executives. could mean more fines for the company. you think of pg&e, for instance. you can't jail a company but you can fine it. they've already fined volkswagen. we're talking about new fines. could be in the billions again. >> no one was injured or killed as a result of what volkswagen did. >> no, but a lot of people were defrauded and that means jail time. >> all right. thank you very much. >> all right. 25g 17. >>> back to our olympics coverage whe

bhp billiton rising, saying it sees the end of that commodities downturn.qbe insurance, a miss with its earnings in sydney down almost a percent. certainly seeing japanese stocks get a good run today. manus: thank you very much. juliette saly with the latest from hong kong. the highlights of your day ahead. we get another snapshot. we've got the jobless claims. that is what we are going to focus on. mortgagethe mba applications out of the united states. at 7:00 p.m. u.k. time, the minutes from the fed policy meeting. coming up on "countdown," the june unemployment data. can it stay below five present levels? we take a closer look. the strong japanese currency briefly broke the 100 threshold to the dollar. what are the limits to the government's ability to stem the rise? plus, ford goes autonomous. the ceo says a mass-produced self driving vehicle will be on the road within five years. more on that in bloomberg. this is bloomberg. it's a glorious day in london. ♪ manus: welcome back. is, the hangit seng is 22,962. let's get a business flash with rosalind chi

q, rio tinto, bhp, the miners not doing well today.ound all morning, and that is where it is sitting. downare aussie dollar was six tens of 1% following the china release. a little bit of weakness. the other thing we are watching is oil. april the best week since , this opec story dominating, the idea that perhaps the market stabilization -- prices stabilization measures might be on the table at the september meeting of opec taking the headlines. the saudi oil minister saying it would be on the agenda. on topcontinuing gains of what we saw in u.s. crude in the overnight session, up by 3/10 of 1%. we did see shorts get out of the market. that is starting to accelerate. we will be watching to see where that goes. haveny, just a gauge of demands, gold higher following , $1337.nese data yvonne: thank you so much. a leading member of china's central bank has sought to allay fears about the economy, saying a slowdown in money supply has not had an effect, and the fundamentals support a favorable exchange rate. we didn't get that disappointin

rio tinto, bhp billiton, up right 2% -- by 2%.up. seemingly investors pleased with a little bit the clarity, the nonfarm jobs report from the u.s., a sign the economy is doing better than expected. risk appetite returning. sign of a stabilization. pboc confirming reserves change little. having a look, kicking things off, look at trade figures, show , don't have yet, have we? >> we are watching those to come through. stabilizationng in the world's second-biggest economy when numbers come through. tepid for exports remain amid global uncertainties. the overall trade balance at $47.3 billion from $48.1 billion from june. exports fell in june, down 4.8% come expected to be further downward pressure, down by 3.5% according to the economists we have surveyed. imports were expecting to a fallen by 7% in june. the weaker yuan should have boosted competitiveness, but the blow to global demand following the brexit vote is likely to have had an impact. china's central bank turning through its cash pile last month to defend its currency a hea

billiton,es of bhp from has been an exit indonesia because there is a rising wave of nationalism in thet correct. what the president has been doing his business. what the h billington has been doing is pure business. their growth is declining. there's not much hope regarding the price of commodities. been a strong business group in indonesia would like to acquire that gold-mining. end, they do a ruby-to-rupee deal. ruby-to-rupee this is pure business. for us, it is good. finally indonesian business group can acquire significant gold-mining in indonesia. >> you are the man behind the tax amnesty program implemented. will it work? 0.4% has beeny brought back to indonesia. can it work? >> it is the beginning. the tax amnesty is totally new in indonesia. waslast time we had amnesty in 1984. actually people are excited. i know people are lining up to get information and starting to register. we also note the big players will come in some time in the next month or in the next two months. much for youro assessment. there you have it. we have to wait and see whether that tax amnesty program wil

unlike bhp, glencore is a traitor.urrent state of the market in the past several months, that was our understanding that that was a hedge and they were trying to make sure they lock in the price. scarlet: glencore posted its lowest profit in its five years as a public company. do you believe this is the bottom? do.es, we our position initially started last september at the extreme lows of the session. in aommodity market was four-year bear market and glencore was getting crushed and many people were anticipating its demise. i believe we were the only hedge fund that took a long position believing there would be a newer version and the company would get ahead of things and be aggressive in terms of their cost-cutting asset rationalization. they have done just that and it's been on the nine or 10 months. the equity is up like 175%. we have done well with that. scarlet: but you have reduced your stake in the company. you say your next move is likely to be a build in the position again. one thing that is holding you valuat

bhp says earnings fell 81%. it was the worst result since 2001.ore and other commodities -- they do see a brighter outlook for oil. tradeo expect prices will in recent ranges for a while. i don't think they will get any higher anytime soon. >> google has introduced a new chat application designed to compete against skype and face time. andorks with android system apple ios. it also uses phone numbers rather than google account. that would make it easier to call people already stored on a contact list. >> time now for our bloomberg quicktake, where we provide context and background on issues of interest. ago,hat many years loans attacked the economy. it was found that they would never happen again. the sub prime rebound has been fastest in auto. terms.nders have eased this year, leaders including the jp morgan ceo has warned that the auto market is overheating. in home loans, lenders are subprimeear the mortgages that were handed out 2005. the word subprime did not enter the lexicon until the late 1990's. it referred to credit levels below prime lo

and would create a canadian champion and previously when po dash was the subject of a hostile from bhp yeah. >> the canadian government, saskatchewan in particular said we're not letting that happen. but in this case one would imagine there would be much more open to the idea. what i will tell you is, it's early days. bloomberg, to be fair, reported the story yesterday but also said it could be very quick and very soon. that is not the read i'm getting. but, in fact, it's early days in terms of the negotiations between the two companies that are focused on a merger of equals between the two fertilizer companies. agram has the retail presence, potash is about potash. >> it would be brilliant. >> brilliant deal. >> social issues in these things. it's going to be weeks before we >> the farmers love that. fertilizer is nat gas and nat gas is cheap cheap cheap. >> you know, social issues that being who's going to run the company can become a key part of any negotiation about a merger of equals. in this case similar cultures see if they get to the finish line. we want to come back to stocks

bhp billiton and glencore are europe. group in a different story when it comes to jm smuckers. earnings beat estimates but the company is leaving its full-year estimates quarterspite the first teaching and lowering its revenue for the whole year to they see it falling about 1%. people are buying less food further pets and pet food made up 29% of revenue the company. if you have ae pet, you will pay anything to get them the best quality and fanciest food. jonathan: my dog is back in england. that't know contents like to the market. can- i don't know we transit -- i don't know we can translate that to the market. the ftse is up in the dax is up as well. broad-based gains in europe. 19 industry groups have been in positive territory this morning. the cable rate is at $1.31. oil is going back again, $47 on wti. and of the yield curve and treasuries is in focus with a two-year note yield just up one basis point. the debate over the fed continues but that's month of the story today in supply is coming to the market come at two $6 billion of two-year notes being auctioned off. where a

the worse ever loss at the mining company bhp billiton. all about the drop in commodities prices, surely? >> it is, but it's an investment in 2011, the full year report and the earnings, revenue was down, 31 billion. took a write down, on the u.s. and gas investments. here is why i mentioned in about investors when the profits were 20 bill, not a lost, but 20 billion, went around buying gas here in north america and that's been a problem for them because that was the peek of the market and of course, it's been selling off-- that's the peak of the market. and stuart, it's a bitter vegimite sandwich to swallow. stuart: look at home depot. >> it's something of a stock that's immune from what we call the retail ice age, on-line selling, for example. shah, would you buy home depot at 136? >> it's pricey here. i do like the stock, if you own it hold onto it. this is the kind of stock i'd put a stop underneath and be comfortable with. would i buy at this level? no, it's a little toppy for me. i'd look for decent move on it. as an investment i'd s

say, reiterating what bhp was talking about, we have seen probably most of the end of the free fall wetnessed over the past couple of years. all it is going to take is one and all of a sudden we have a global crisis. tom: stewart wallace, running all commodities worldwide. it is like herding cats. mr. say well, i do not know what we will do with him. we will look at one of his toys currency pairs. equities, bonds, currency, commodities. the vix, 11.99. yen, 100.17. a 99 print on yen to jackson hole would be something. this is bloomberg. ♪ tom: thrilled you are with us, bloomberg "surveillance." francine lacqua in london, tom keene in new york. michael mckee will report from jackson hole in a number of days. taylor: delta airlines is trying to break a calm tracked impact with its pilots union, offering a 27% pay raise over four years and the pilots 137%. they have been deadlocked since the first of the year. lockheed martin has proposed to move all of its manufacturing to india. under the proposal, india would have partial control over which countries could buy f-16s, meaning it could c