bhp's experience has not been happy.ion it has spent but it is not getting a big return on its investment so before now, it's said this wasn't a good way to spend its money. it doesn't see that the market in the us can be replicated elsewhere. shale oil is not taking off globally so it's signalled it will not be a core part of its business and it's prepared to sell off. that will give confidence to the shareholders going forward. in other news, the british airline pilots' association says it has authorised a strike by thomas cook pilots over a pay dispute. the dispute follows nearly eight months of negotiations over a pay rise which was due in april. the industrial action will happen on september the 8th. johnson &johnson has been ordered to pay more than $400m to a woman who says she developed ovarian cancer after using products such as baby powder. johnson &johnson has defended the products' safety and says it plans to appeal. this week we're looking at the business of death. not every new idea in silicon valley seeks

you can see on the screen there, the bhp share price up 32%.ther the central bankers will give anything away later. the chair of the us fed and the president of the european central bank later will have their say. we heard one bright spot for asian markets was the performance of the mining sector, all metals doing well. let me show you what is happening in europe. there'll be that interest later in the week in what mario dragi has to say. any indication that the european central bank is thinking about cutting back with tapering, that may come later. michelle has her assessment now on what matters on wall street today. investors will be watching cote's results, the perfume maker expected to announce a rise when it posts its results. second quarter results out for other companies. revenue at the cloud based software firm is expected to go up despite increased opposition from oracle. the housing market will be in the spotlight this week, toll brothers turns in its results for the third quarter. profits and revenue likely rose. the us federal housi

bhp in talks with potential buyers. of its u.s.acquired in the contentious $20 billion spending spree and -- in 2011. after skirmishes with activist investors. bonds,l repurchase taking advantage of rising commodity prices. flow pile to reduce debt by $10 billion last year and returned $4.4 billion to shareholders with shares up 2% at the close. the stock story of the day, provident financial, one of the smaller ftse 100 companies, down 65% of it with share slumping by 76% earlier, the biggest decline ever after their chief executive stepped down with immediate effect. the subprime lenders plan to replace workers with technology backfiring. forcing you to forecast a full-year loss, scrapping dividends, it expects the pre-exception lost or return credit business between 80 to 120 million pounds after scrapping its interim dividend. a full-year dividend also unlikely and a deterioration of the trading business and its credit business, home credit business. four, an issue number investigation by the u.k. regulator, the fca. unit.he cr

-- bhp?look at both or all three, they are done a fabulous job and reducing cost over the last three years and cutting out debt. stage, from the next outside of the cash flow is coming from stable commodity bhp, whichuided by is seeing a modern -- a modest list and. we want to something investment for growth. that is scope for future investments. have: we are going to andrew mackenzie from bhp on. if you are sitting there in front of him, what is the number one question on your mind for him? more a bighink it is picture perspective around where they see some stability and commodity prices. clearly, that is the key driver for php. china was slightly subdued, little the same for the u.s.. it is interesting to see what youview is.re -- view is. do so much. one feature on the bloomberg would like to bring to your attention is our interactive tv function. you can find at tv . you can watch is like the also see previous interviews and died into any of the securities are bloomberg functions we t

if we take -- bhp is reporting tomorrow, rio we feel is a europe had a bhp -- a year ahead of bhp inurney. be buyback. we will see what bhp can do. it is about how to deploy the excess capital because balance sheet's are in good shape. betty: maybe south32 might also buyback? paul: extending the existing buyback for sure. the company is at a red cash position. they performed with a very safe balance sheet. -- they were formed with a very safe balance sheet. we have seen growth queries with regard to how are they going to deploy that capital in order to make sure they can maintain their currency volumes across the business. betty: what about risks to your outlook or what you see as risks for the miners resort even upside risk as well, china growth faster than expected or more stimulus into the economy. what are some of the risks going forward? paul: i guess there is obviously the fundamental side of the equation from supply and demand perspective. it is always tough to get a read on china. with stimulus you would have to anticipate what is going to lead to increased demand and higher

>> it will stay within the bhp portfolio.ally it could be spun out to another buyer or something else but for now, it is such a small part of the vhp business in the sense that it is capital expenditure that was down to $100 million a year. francine: you look at a lot of these big companies. how much when you look at them -- when you look at the zinc market, how much does it have to do with oversupply? >> a couple of dynamics that have shifted the market. we reached a point where we have tight supplies in commodities. part of that is because we don't have enough supply, like in zinc, part of it is because of structural reforms that are moving through in china. the chinese taking out steel capacity and coal capacity has enabled cold to be undersupplied in the seaboard markets. that pushes prices up. -- and otherser that open up other opportunities. as we go forward with demand rates continuing to stay higher-than-expected in china, this will further exacerbate the problem. at the start of a strong cycle for metal prices. franc

how much will they bring in for bhp?y, it could be more than 10 billion. bhp bought these assets back in 2011. we had to bear in mind that context, the timing is interesting. we are seeing a potentially brighter outlook for prices. that means buyers will be prepared to capture some of the upside. point of view, there is a process long in the making, it has been quietly backing away. it reduced the size of its shareholding by about half. the acreage has reduced by about 2012. ony said that it is focused petroleum, this is the time that it is prepared to signal that it is paired to get out completely from shale. >> thank you so much david. that is happening in the last hour, up next, china's great wall motor is really back its ambitions. chrysler, by fiat also, bill russell, we are initing the trump rally arizona, these are live pictures right now, everybody gathered there at the phoenix convention center. president trump will be holding a campaign rally in just a few seconds. he will try to rally his base in the face of s

bhp's: will they solve problems or the view them?enacted shareholder and -- there was an active shareholder in elliott, and we have not seen the reaction from them today to this notice. this dovetails with things they have been asking the company to do, so it will alleviate some shareholder interests and concerns. ultimately, the bhp portions will rise and fall based on metal prices, so it depends on what is happening. vonnie: and metal prices continue on the tear. >> absolutely. we have seen them go up 50% in 50 days, so quite a crime. vonnie: what else does bhp have to sell? is it all in that patch of its portfolio? tina: it is, and sadly, the smallest part of what they are selling. they have a big amount of acreage where it is predominantly natural gas and those markets have not been recovering as oil has, but you continue to see a glut in those markets and it will be harder to sell that, i think. you also have acreage in the eagle ford, which they acquired in 2011, and that is going down to have to buy that after buying at the to

ftse 100 buoyed by some miners this morning, bhp billiton, antofagasta both up.nce and germany also higher let's look at asian trade, which for the most part is positive. japan fractionally lower all the other main markets were higher, including hong kong up 0.9%. >>> president trump delivering a tough warning to pakistan in his address to the nation last night. >> we can no longer be silent about pakistan's safe havens for terrorist organizations, the pal b taliban and other groups that pose a threat to the region and beyond pakistan has much to gain partnering with our effort in afghanistan. it has much to lose by continuing to harbor criminals and terrorists >> president trump's commenting sending pakistan's main stock index lower today. joining us from pakistan is financial times correspondent farhan pbokhari. what is the reaction from the people on the ground to president trump's remarks last night. >> a much tougher position was widely expected for several days in a sense what president trump has said has not come as a prize to pakistanis. but the extent of

bhp and antofagasta shares jump to the top of the stoxx 600 as both miners report a surge in quarterly profits. >>> shares in fiat chrysler accelerate as a chinese firm makes an investment in the company. >>> persimmon posts a 30% rise in the first half pretax profits, while saying the country's housing market is confident despite brexit. >>> u.s. president trump announces a a reverreversal in afghanistan, but declining to give troop levels in a prime time address >>> we are bringing you some numbers coming in from the norwegian pension fund annual report returning 202 norwegian -- billion norwegian kronena on investments in 2017 fixed income investment returned 1.1% in 2017 equity investments returned 3.4% in 2017. obviously the fund there looking to reduce risk as it said recently after really putting in some sizable profits over the last year or so. let's look at the european markets. we have got across the sectors pretty significant amount of green on the board most of the european market trading up, looking at the numbers specifically we're up 0.53% across europe. ftse 100 up 0.7%

bhp billiton, right there.hing interesting, on the losing side use the defense stock at the top. we are taking a look at the biggest losers here. as far as index points, right 1.3%,at the top, down pernot ricard. investors are selling it off today. manus: let's get deeper into the mining sector. we have had earnings from bhp billiton. the ceo announced plans to shelve the shale assets. says the, antofagasta outlook is positive. with us now is max kettner. so, when you look at this, the ceo siw arning -- is warning the market's parting, and he is selling mining stocks. overdoneink we have ourselves? >> i think not yet. when we look at the earnings picture and the commodities sector, it becomes clear that expectation has been high for andq2 and the revenue earnings side. but we still has an positive surprises, not as positive as the overall market, but commodity producers have still been able to surprise the market positively. from that perspective, i don't think we have partied too much y et. in terms of prices,

what they really wanted is to see bhp divested of their share assets.u look at the results, there is a concession by andrew mckenzie, the ceo, they are looking at the options of a vesting. a minor windfall paul singer. --a minor win. the free trader meagan between south korea and us to be looked at. south korea and us to be looked at. south korea is america's sixth biggest trading partner. since the trade deal, america said that the trade deficit has doubled to over 27 billion us dollars. supporters have applauded getting rid of 95% of ta riffs applauded getting rid of 95% of tariffs on consumers and industrial products. i spoke to an asia analyst and asked her if this is as horrible as president trump says? it is not horrible. it might not have succeeded in the way they hoped, at least the us hoped that it is not a bad deal at all. as an increase of 2296 bad deal at all. as an increase of 22% so that is good but if you look at services, the us is doing pretty well. they have raised their exports by 22%. you have to look at the global picture and the bi

he got into the bhp shares in april.ht, and announced a plan to divert -- to divest u.s. shale and so, that certainly exhilarated the process, whether or not they were thinking about it beforehand. of this ismuch really changing what would happened as opposed to recognizing a situation and getting in there, early enough so you can to give manage of something that would have happened anyway? lizzie: a lot of times, they will see an opportunity if companies received the takeover that they think is not value it high enough. they can get support for what they are saying, they can rally other shareholders and do what they can to push that price in. i won't ask the question, i will just say the name. bill ackerman. lizzie: not such a great 24 hours for him. target said he -- said they are rejecting the three nominees to the board, including him. he says they have not taken time to look his proposals, that they are not listening to what he wants but it looks like we are gearing up for a proper fight, there. they are essentially

you'll be hearing from bhp's chief executive. this is bloomberg. ♪ rishaad: bhp is looking to streamline in's business by getting out of its u.s. shale business, something that investors have been the mining. andrew mackenzie told us earlier about the sale and more about those assets acquired a $20 billion deal spree just six years ago. >> a prepared strategy is a small number of trades. we keep the yellow options there so we can proceed with a reasonable amount of pace, but for now we think a trade deal would work best. >> how quickly could you complete and a? >> -- complete an exit? >> we know what our business is worth. we will continue to add to their value with our technology. on the other hand, we don't want to lack urgency, and that is why we have other options in the wings if sales look to complicated to execute. because interesting monday we heard from total the french energy giant. the agreed to buy the assets. u.s. shale was not at the top of their wish list because it is too expensive. do you agree? abouthis concern y

bhp billiton unveils plans to streamline the business with the sale of its u.s. shale asset. in 30 minutesns time. 100 days of macron. four months after the french president prospector he, the initial market euphoria about his win has managed. just how likely is it that he is able to pass labor reforms? matt: we are less than half an hour away from the european open . i'm am looking at futures that signal we will see gains at the open. you see the same in u.s. futures and it is an interesting trade today after the trump speech yesterday. you see people selling bonds,

billiton this allows ken mackenzie to take constructive steps for bhp and owners elliott called bhp to exit the shale business and end all parts of its petroleum business. >>> get in touch with us on twitter, streetsignseurope@cnbc. tweet me directly, @carolincnbc. do send us your thoughts on anything you see on the show and maybe about this -- coming up on the show, after a short break, runway wars air berlin filed for bankruptcy sparking a battle royale for assets we'll examine who is eyeing what after the short break. and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingtree, you know you're getting the best deal. so take the power back and come to lendingtree.com, because at lendingtree when banks compete, you win. fixodent plus adhesives. there's a denture adhesive that holds strong until evening. just one application gives you superior hold even at the end of the day fixodent. strong more like natu

when you look at the shale fields bhp fought, you have to wonder if someone lost their mind calculatinghen it paid a 50% premium for petrol hawk at the high of the speculative boom for $15 billion, they got 1 million acres of permian properties the company has been trimming some of these assets of late, because the ceo andrew mckenzie now viewing these holdings as more of a curse. that's right, more of a curse. hardly a ringing endorsement because of all the money that needs to be spent. bhp stock has been a huge winner, because we've been in a roaring commodity bull market and this company is a mineral giant. these asset also be the determinant of the entire pricing environment for domestic acreage going forward and for the stocks they can severa s ths i don't believe wall street has any appetite left to provide financing for companies that might want to purchase these holdings oil companies have been forced out of the equity market, the door is closed so buyers are left to come up with their own money right now, we haven't had any price discovery during this awful period now with thes

incomings after bhp's president held meetings.ew york city pension plans are on the verge of investing with kkr. pension money would be invested in private equity, credit, and real estate deals. mark: still ahead here, what is new in the new iphone? mark gurman droid -- joins us with a special preview of apple's. latest smartphone. this is bloomberg. ♪ ♪ mark: this is "bloomberg markets ." i am mark barton in london. am vonnie new york, i quinn. smart-beta etf's have let -- yet to take effect in the fixed income change. here with us is air ball tunis -- eric boulton us -- eric b alchunas. specifically when it comes to smart beta, why has it not taken root with fixed income? eric: because people interested in outperforming are happy with the active bond interest fund. there is less room to exploit. on the equity side, people were not happy with equity managers the last decade. etf's had. if you look at how credit managers are outperforming, there are tricks. they will take duration bets. is isart beta really taking things smart man

bhp shares are rising slightly ahead of those results by .5% in sydney.about the outlook for the mining industry with westpac in sydney. ite talking about bhp, will as theyasing pressure have reached this truce with elliott. if they don't deliver, will we see animosity continue? and what should they do? >> there is little they can do. we are going down a road i cannot answer your question. i have to give upon's on that one. haidi: let me rephrase that, given that we have seen resistance at $50, what more can opec do? does of business like bhp want to keep shale within its business given the environment? ongoingave this improvement and efficiencies in the shale industry with costs coming down. also, part of the story is shale will be undermining profits for oil going forward, so if the hp can be on the cutting edge of curbs, then it remains a profitable industry. opec will be in the background, but the shale play will be the ultimate price setter over the next few years that the risk for any company on the right side of that and at the cutting edge can con

if you look at the history of bhp, and there is a slight an hour presentation, it shows we have donemany times. we have to projects that we approved in the course of the weancial we supported, which waited five years to get the capsule down to see the market ready. have two products completed this year that started about four or five years ago, but after a similar amount of delay. over the last few years we have had several projects where we have tried to sell them down and in some case exit completely, often from a more value than what we invested in them. this was only ever an option. we were being transparent with shareholders about when things and we arensidered, being transparent again saying we don't think the market will be ready or the technology will be ready for at least another two or three years. we tell people that. in the meantime, we do all the things with our other projects to make them investable or not. but i repeat, if it doesn't meet our disciplined capital framework, they don't go ahead. we have been extremely capital.ed in during my time as ceo, the kind of capi

what a difference a year makes the mining giant bhp, boosted by commodity prices. and welcome to bbc news. president trump has made a prime time address to the american people, outlining his administration's vision of the us military‘s role in afghanistan. in front of a military audience at fort myer, he said he'd changed his mind about a speedy withdrawal from afghanistan, which he supported as long ago as 2007. he said gains made by the us in iraq had slipped away because of a rapid withdrawal there. and he tried to put public pressure on pakistan and india to help stop the taliban taking over afghanistan. another fundamental pillar of our new strategy is the integration of all instruments on american power. diplomatic, economic and military. towards a successful outcome. some day, after an effective military effort, perhaps it will be possible to have a political settlement that includes elements of the taliban in afghanistan but nobody knows if or when that will ever happen. america will continue its support for the afg ha n will continue its support for the af

in april they forced bhp to sell all or most of its shale business bhp has declined comment on the latestews. >>> akzo nobel has reached a truce with elliott management. akzo nobel will give elliott seats on its board if elliott supports the new ceo and the plan to spin off the specialty chemicals business this news comes after elliott tried to push akzo nobel into a deal with ppg. >>> maersk reporting a loss. the cyberattack that disrupted operations in june will cost between 200 million and 3$300 million. that's the same one that cost mondelez as well >>> the federal trade commission asked clariant and huntsman for more information on their merger the chemicalmakers are still confident they can close by the end of year. >>> bristol-myers says its combination drug to treat an advanced form of kidney cancer failed to meet a late stage goal it is down 3.7% this morning >>> kansas city southern is raising its quarterly dividend from 33 cents to 36 cents a share. the railroad operator is launching an 8$800 million stock buyback. >>> up next, fiat chrysler making a big bet on self-driving car

the returns to shareholders continue the theme of bhp an fortescue metals.is one of the best performers on the asx right now, shares up around 3.5%. rishaad: let me take it from here. take us through the of the results we have had already. the oil and gas producers have had a difficult time, the lng producers, underlying profit of 150 $6 million, but over all million, as of $506 big improvement on what we saw last year with a $1.1 billion net loss. it has been hit like a series of hefty write-downs on lng plants come the most recent last week of $870 million, pretty consistent with a lot of the aussie gas producers having to take a hit and a lot of debt over these capital intense lsg plants they have been building. a copper producer also having a decent first half set of numbers, 80 point $6 million, up from $55 million a year ago. a little better when you the broad approval for building of the world's second-biggest copper mine, construction to begin in september. rishaad: nice one, paul. oz minerals chief executive joins us just after 10:00 hong kong time.

tuesday, we will get the full year earnings from australian mining giant bhp billiton.ould impact financial performance there. and on thursday it is the annual meeting of prominent central bankers and finance ministers in the us state of wyoming. this meeting comes as the us central bank, the federal reserve, has raised the cost of borrowing already twice this year and has signalled it will raise rates one more time. the question now is exactly when. and the weak wraps up with earnings from australia's qantas. earlier i spoke with a representative of the london school of economics who says his focus on the annual meeting of central bankers in the us, and what the outcome could be for asia. for asian businesses, the cost of funds is important and my cost of funds would be very dependent on what the fed or ecb do. jackson hole is a coming together of central bank governments, as you have said. the economic backdrop right now is one of cautious optimism. no one is talking about disinflation any more so talking about disinflation any more so it looks like demand is picking

bhp billiton unveils plans to streamline the business with the sale of its

bhp billiton shared some important news. >> bhp billiton reporting a miss on underlying profit, coming a dividend of 83 cents per share. the headline grabber though, was the company's plan to sell its u.s. shale unit. haidi: what is your preferred strategy to make a clean exit? >> for now our prepared strategy is to make a small number of trade sales. we are keeping other options so that we can proceed with a reasonable amount of pace, but for now, we think a trade sale would work best. haidi: how quickly are you planning to complete an exit? andrew: i think it is too hard to say that. we have to be patient, we know what our businesses are worth. we will continue to add to their value through our technology and sort of modest investment. but on the other hand, you know, we don't want to lack urgency and that is why we have other options in the wings if trade sales are too complicated and too difficult to execute in a reasonable time. yvonne: -- rishaad: it is the world's fourth biggest iron ore exporter and it is out with its annual reports. fortescue metals group doubling more than th

bhp, one of the big ones in the world based in london.y had a good report full-year profit rose fivefold happening this morning here. bhp has had a great year, up about 17% so far, but other mining companies are doing really well on top of that, so antofagasta had earnings in chile, and they are based in europe glencore up 20% and vale up 19%. all of these companies sell a lot of iron ore and copper and china in particular. one reason they have been doing so well. etfs you can buy for this. dbb, dog boy boy here you own copper futures and aluminum futures that's been rising the last three months because the global economy has been improving that's been helping that you can buy mining stocks but you have to be careful buying them the one you want to own is pick. that's the one that owns the global miners, the bhps and that's the white line. the orange loin is the metal and mining etf that basically owns steel stocks you want to own pick and finally the dollar has been down about 6% in the last three or four months, guys that's also a help

manus: would you buy bhp billiton? broader story has disrupted by these idiosyncratic -- they're really piling up. a lot of dividend it's cut. you get a double whammy. u.k. stocks get really that hard in an environment. seehis juncture, we do value in the u.k. stock market. i think it is pretty clear the ratings are not too challenging relative to the regions. i think the economic forecast are pretty gloomy and the consumer is in reasonable shape. u.k.decent outcome for the economy, going to present good value. anna: a day after the big fall wpp. they did a 2.5 hour session with investors. 22 outside factors that are sapping the life out of that industry. are others across europe that are struggling. reevaluating, maybe spending less in total and 80 passing them through into other forms. do you stay away from anything? just ticket? ben: they are going for a transition for how they're spending it i don't think we are too despondent, like advertising. they will be able to understand and do understand the way the world is

betweendifferential real and bhp this year. for ore back in the black 2017.have a picture where we could see more of a bond coming through for the big mining stocks this morning. are not givinges us a sense of direction this morning. summer months, not much of a sense of direction, but we continue to watch what happens with the data. very important to work that story through. we are waiting for the glencore update in the next few days. up next, it is the market open and we will bring you the detailed of exactly how some of these stocks are delivering this monday morning. this is bloomberg. ♪ guy: cash is about to open this monday morning in europe. the mining stocks could be interesting in what we are seeing. take a look at the cpi captivation on the bloomberg. it is putting us to around 2/10 of 1% gain. asia has had a reasonably strong session, adding a decent session. commodities have been fascinating out there. iron ore rocketing once again. matt: i have a look at the number that a lot of people have been searching through today. this is the industrial pro

in corporate news, bhp billiton is expected to report earnings.w improvement and that commodity prices are picking up. more from michelle later. and we'll be hearing more from michelle later in the show, when she will be explaining how companies plan to make big bucks out of today's solar eclipse in the us. joining us isjeremy cook, chief economist at world first. let's touch first on america. what could the jackson hold meeting —— what does the jackson hold meeting mean? it is in wyoming in the united states. it is a talking shop central bankers and policymakers. it has a significant importance for market in that in the past five and six years, certainly throughout the global financial crisis, central banks have used this to test out new policy ideas, floating boat by saying, we might be looking at policy, increased interest rates, for example. janet yellen and mario draghi will be there. expect them to suggest what their saddlebags could be doing. one of the things that will be on janet yellen's be doing. one of the things that will be onjanet y

and this is a big week for aussie miners and bhp and south32.s with kkr and the potential takeover. and watch the aussie stocks after china has ramped up outbound investment curbs. they have companies on their restricted stocks, casino. that is the bad list. the chinese are bought up about 78% of australian properties last year according to this group. that is a look at what we are watching. australia at 10:00, moments now. this is bloomberg. ♪ got you outnumbered. the dinosaurs' extinction... don't listen to them. not appropriate. now i'm mashing these potatoes with my stick of butter... why don't you sit over here. find your awesome with the xfinity stream app. included with xfinity tv. more to stream to every screen. ♪ it is 8:00 a.m. in hong kong. morning,tories this china announcing new rules on overseas investment. sports clubs out, health and road in. fortescue to report, full-year profit doubled on higher prices and lower costs. >> i and betty liu in new york just after 8:00 p.m. the turmoil and washington is a lifeline for gold as inves

macy's ceo will join us live at 8:00 eastern >>> shares of bhp bill the ton raised its dividend.nd it announced plans following months of pressure from elliott management tronc -- a nice name to it -- has named ross levinsohn he's also replaced other newsroom managers. he's a cnbc contributor and will be on "halftime report" today. on at noon >> "halftime report" is from noon to 1:00, but you knew that. >> i wanted everybody else to know that. >>> the minimum wage still stands, but cities and municipalities are taking matters into their own hands kate rogers is in miami looking at how a local wage battle stands to impact small businesses there kate >> hey there, michelle good morning in miami beach there's an ongoing battle to hike the local minimum wage to more than $13 by the year 2021, $5 more than the current minimum wage, but for some small businesses like panther coffee, where we are live today, they do have locations, paying more than the minimum wage is a no-brainer joel and latisha actually start their lowest paid workers at $10, and that's before tips kick in they say i

shares in glencore rose more than 2%, while bhp billiton and rio tinto were both up by more than onegning. back to you. in every arts organisation wants to win over a younger audience, but scottish opera have taken that to new lengths. their latest show at the edinburgh fringe is an opera for babies — the latest in a successful strand which has been snapped up worldwide. our scotland arts correspondent pauline mclean reports. this is opera for beginners. a shorter show, a more simple storyline and a chance for the audience to move around. all required when you are not yet two. welcome to the latest show from scottish opera aimed at babies. we said we wanted it to be a true opera experience. it is babies, 6—18 months, but we wanted them to be able to say, when they were in their 20s, 30s, if someone said, "when did you first see an opera?" they would say, "well, when i was ten months old." every arts organisation wants to win over a younger audience, but for scottish opera it's about more than that. we should aspire to make sure that every child in scotland has got the same kick—off p

some action could come from the resources sector, bhp and rio tinto's adrs were higher, particularlyer were up. also higher in chicago as we wait on manufacturing for august out of japan. waiting ona, we are a read following thursday's official read. in south korea today, second-quarter gdp is expected to stay steady. allen.ul more "bloomberg technology" next. ♪ this is "bloomberg technology." i am emily chang. back to our deep dive of the digital currency market. the entire industry is now valued at $170 billion. i want to send it back to caroline hyde in london who is with a leader in the cryptocurrency space. carolyn: -- he is known for his continued success in calling the price of it:. -- of bitcoin. he has a decentralized method of confirming your identity. joining us from boston is civic vinny lingham. why do you buy this rally? >> there were a lot of risks on the horizon. bitcoin was sitting around 400 when i made the call to buy. this is something that's going to go up. we got to a point where it looks like there were a couple of technical risks. i decided there was a risk sc

bhp will release full-year earnings.cting to see a profits.increase in the dividend is expected to surge to $.88. that may go toward appeasing management which has been pushing for change. the could have more on china overseas land and development. first-half profits soaring on monday with shares up. we will have more reaction on that. china state construction will report earnings. we are waiting on figures for july expected to see strengthening to 2% on the year. i am paul allen. more from "bloomberg technology" next. ♪ emily: the once-in-a-lifetime total solar a clips -- eclipse has come and gone. they put the u.s. power grid to the test. they braced for more than 12,000 megawatts of solar power possibly going off-line. it is the largest independent solar developer in the u.s. it c.e.o. spoke with bloomberg television during the height of the eclipse on the east coast. >> the best part about the sun is it is so reliable. when these happen once in a generation, we have a lot of advance notice. we were able to work with

and hourly jobs at its fulfill m center but also cutting several members of the recruiting team >> bhpilliton is shaking up its board. controversial director grant king will step down just six months after joining as you can see, stocks are up this morning 0.18%. godadedy says blake irving will retire at end of the year. he oversaw the ipo in 2015 erving will be replaced by coo blake wagner >>> shares of intuit announcing that its cfo is also stepping down and will be replaced bay senior finance executive seeing intuit off by 0.1%. >>> time for our top trending stories. taylor swift is at it again with another social media post. it looks like a snake slithering against a black background it's already been viewed more than 4 million times on instagram. this comes a day after she posted a similar ten-second clip breaking a complete social media plaqueo blackout some fans speculate she is on the verge of dropping a new album. >> i heard a new theory about this that if you watch the video with sunglasses, there's some secret meaning revealed >> really? >> i don't know if the eclipse glasse

the firm says bhp appears to be heating investors' calls for change.hat is the latest business flash. now coming up, battle of the charts time today. topiocal, looking forward to that. this is bloomberg. ♪ nejra: time for our global battle of the charts where we take a look at some of the most telling charts of the day and what they mean for investors. you can access these charts on the bloomberg by running the functions featured at the bottom of your screen. kicking things off is christine pitino in london. what have you got? >> today i'm looking at the amazon advantage. amazon is at center stage of this week's markets because of its $16 billion bond sale. one of the theories why that did so well is because it offered investors a chance to buy into the internet retailer without buying its stock. and that visitation is understandable even that its stock has risen three times as much of this year alone compared to the s&p 500. now, i took a look at amazon's 2024 bonds, which was part of his last bond sale in 2014, and the yield on that 10 year treasurie

results tomorrow, the world's largest and an analyst saying bhp is under further pressure to increasets payments to investors as well. president trump will make a primetime speech about afghanistan and south asia this evening as he looks to get his presidency back on track. the address falls the departure , steve bannon.st -- greaty, thank you to have you again. what will be the focus of trump's speech later on today, what is his strategy in delivering this speech? he wants to change the conversation. it has been a tough week. several weeks. he has been on vacation having a working vacation for 17 days. away from washington. we have had the charlottesville incident and the discussion about white supremacist violence. had's -- steve bannon leaving the white house. the war of words with north korea. he wants to appear more statesmanlike and is going to be giving this speech from an army post miles from the white house which his advisers hope will be a good backdrop for trying to be more statesmanlike and talk about afghanistan and southeast asia rather than these other shoes -- issues.

what do you think bhp did not do right?id they just not have the correct password -- patchwork of having the economy of scale or are there things they could have done differently? guest: i don't know if there is an element of not doing anything right. there has been a seismic shift and technological shift as everyone has been forced to go to $30 and back into the 40's and regenerate their businesses and that has in a challenge and it still an ongoing problem for many of the firms. it is a systematic change taking place. at the assets of high-quality and certainly one that can be competitive in the broader economic landscape within global oil. julie: thank you so much. still ahead, what's new in the new iphone? our gadget guru joins us with an exclusive preview of apple latest smartphone. ♪ julie: this is bloomberg markets. i'm julie hyman. julia: and i'm julie chatterley. rex tillerson speaking at the state department on the president's plan for afghanistan. he says pakistan can play a key pakistan -- in getting afghanistan

. >> bhp is in there valle, freeport, these are all seeing money flows freeport, in particular, judge $14 million share turnover normal full session is about 18, so $14 million in the first 2 1/2 to 3 hours is huge obviously, a lot of accumulation up 4.3% right now. >> all right fiat, chrysler, is denying a report that it is drawing buyout interests from a chinese company. >> it's kind of interesting, because they're not just no commenting, they're denying interest but yet, chinese company, says that they are interested in jeep so not the whole -- >> stock's up 6% so they are saying they are interested in jeep, and it remains to be seen i think the auto cycle, though, has plateaued. it's actually trading down >> sempra announcing a deal to buy oncor for almost $9.5 billion cash >> and it's going up when you see the enquirer and the apple of their eye both going up together, judge obviously these guys beat out warren buffett for this one, but this is a good thing i like it going forward, like the combination. >> all right, weiss, what's up with micron? >> we've talked a lot about this

shrugging off a disappointing report on economic sentiment it is also a strong day for the miners led by bhpilliton they're announcing plans to exit the u.s. shale oil and gas business a move that has been pushed by activists and manage ment. they also did a jump in underlying net profit. miners also getting a lift from koerp prices which we've been discussing now at a record high. meantime, in currency land, the euro moving lower against the dollar they await the jackson hole speech not just by janet yellen but mario draggy mario draghi. he is talking about buying back that program the euro trading down from the 2 1/2 year high hit earlier this movement another reason stocks moved higher today and we finish with a plunge in shares of providence financial definite lit chart of the day. losing two-thirds of their value. the ceo stepping down after the uk based subcrime lender issued the second quarter profit warning in three months and also scrapping its interim dividend back to you, sarah >> all right that is an ugly move thank you. >>> let's go back to hq. sue herrera has a news update. >>

maybe bill shine's coming in, let me leak bhp blp and see if i can [ bleep ] these the way i [ bleep ] scaramucci. the mooch showed up the a week ago. this is going to get cleaned up very shortly. okay. cause i nailed these guys. i got digital finger prints. ? what such things? >> oh, well, the felony. they're going to get prosecuted, ob >> yeah. the lie detector -- >> that was your conversation with ryan lizza of "the new yorker". >> which, forthe record, i thought was off the record. >> but you didn't ask for that. >> that was a very deceitful thing that he did. he knows based on my prior relationship. >> lot of reporters tape phone calls. >> george, i dimt say i didn't do the wrong thing. i paid the consequences of having that sort of conversation. you know and i know, there are personal relationships. howie mentioned it on media buzz last week. >> he said he didn't have a personal relationship with you before meeting you in the green room earlier this year. >> that's a little bit of a stretch. we had conversations. his family knew my family for 50 years. that's past news. i made

with the german up 3.7% after a report that elliott management may turn its attention after pressuring bhpon to delay a multibillion-dollar investment in a canadian project. k+s seems to be moving on that today. one of the best gainers on the ggitt,600, followed by me moving higher today. seems to be on a re-rating, with uyfferies upgrading it to b from hold. lowerekta, this is called by some at the open. we had numbers this morning. net sales for the first quarter were a beat, but the first quarter adjusted actually missed. perhaps a surprise to some that we are seeing gains, up 0.5%. matt, manus. manus: thank you very much. prime minister theresa may in this country has conceded that they european union law will influence the u.k. long after brexit. directseeking to end jurisdiction of the european court. that is a climb down from a declaration to bring an end to the court's jurisdiction altogether. the compromise is aimed at speeding up divorce talks, but is likely to open her to attack from the eurosceptics. will hobbs is the head of euro investment strategy at barclays. the u.k. leade

rio and bhp have been all about iron ore. in china, that means of the structure, roads, buildings.are into copper, cobalt, nickel. these are the metals you will need for what some people turn the electric revolution. there is clearly a lot of spin. clearly, they are leaping on the story of the moment. there is something to be said for the mix of metals that glencore has being well-positioned for the development of the chinese economy and the global economy. guy: thank you very much indeed, will kennedy. the commodity coverage around today, absolutely sensational on your bloomberg. one thing i want to highlight is a tliv, and we are going to be doing that in a moment. the other thing i want to mention is the chairman of bloomberg lp, senior independent nonexecutive director at glencore -- have to get that out there. the other one is this. this is the tliv function, run you through the release of the glencore numbers, earnings. amazing coverage. companieset these big reporting, tliv, a fantastic function on your bloomberg. matt: absolutely. up next, it is time to dial back risk. we h

elliott management, activist shareholder's, they seem to be good at delivering at nestle and bhp billitono you talk about activists and to what extent does it drive your thinking? of management -- managers are also activist. it is important that shareholders try to maximize returns and make sure these companies are listening. it has been a change in the last 10 years. governments, -- governance, boards are listening in terms of governance practices and some are more open. shareholders are more engaged. anna: what kind of things do you buy? aest: in the u.k. there is good dispersion and valuations and one can argue they are trading at a premium is the have benefited from the weakness in sterling where it is the domestic focused stop -- stocks are cheaper. that diversion is interesting. anna: thank you for joining us. manus: the rest of europe has caught up with the uk's opening call. equities are opening lower. -- will be in focus as the they cut their revenue growth forecast. ♪ open, wee european bring you the first trade of the day. i am manus cranny alongside matt miller. here is what w

lots of attention to the latest results coming out from the mining giant bhp billiton, those come out transactions are up by 12% on last year. and the chinese car company "great wall motor " says it's interested in buying some or all of american carmaker fiat chrysler. the two sides have already reportedly held talks about chrysler'sjeep brand. for more on this let's talk to helal miah, investment analyst at the share centre. tlawk forjoining us. tlawk for joining us. let's tlawk forjoining us. let's take stock. this is a significant development. it's a significant development. it's a significant development. the chinese are interested in western brands. for great wall themselves, they're a specialist in manufacturing suvs which have done well in china but not abroad and what they want to do is take their brand upmarket. but there are quite a few questions being asked about this deal. first of all, will it be able to overcome all the political hurdles, we know that mr trump is very anti—china at the moment. it has very protectionist ideaology there. in terms of the financing, the comp

you are going to see a move in billiton,n the bhp you are going to see a move in the financials as wellr strong open in london, paris, and frankfurt. all set to trade on the upside at the start of trade. dollar index, it is all about cti. week, i am, so last being told by my guest host, david bloom. the argument from the market is, then garden blackrock are saying, we're underestimating the momentum of the trajectory. .5%, you aredex of actually seeing this movement, the u.s. security council. will it bring north korea to the negotiating table? that is the question for the markets. dollar is just a little bit softer, and by 18. we have december iron ore futures -- down by 1/8. the production kurds should not be taken lightly, -- reduction curbs should not be taken lightly. saly, she isiette standing by with the first word news. juliette: manus, thank you. in the u.s., new white house chief of staff john kelly has moved swiftly to bring order to a chaotic team. that is according to accounts from 12 administration aides outside observers. job, thefth day on the for-star general is said to

shares in glencore rose more than 2 %, while bhp billiton and rio tinto were both up by more than oneing to one councillor concerned at the backlog of waste that is mounting up on the city's streets. bin collectors are now stepping up industrial action by refusing to work every day for two hours in a dispute overjob losses. kathryn stanczyszyn reports. for colin, british summertime usually means hoping for some hot weather. but not this year. 13—14—15 bags. that is because colin's rubbish has not being collected from his house sincejune. high temperatures would make a bad situation worse. it is not very good. you are living somewhere and people see bags of rubbish at the front of your house. he is now having to store bin bags in his back garden as well. i have seen rats and foxes. cats rip the bags up. there are actually maggots. i know that from seeing them myself. it is disgusting, really birmingham city council wants to modernise its waste service, but refuse workers say they are facing pay cuts. and have been striking two hours a day throughoutjuly and now three hours a day. the c

elliott pushed at changes since first buying shares of bhp back in april >> we're going to talk netflix, because it's been a busy few days for that company. disney announcing its going to shift marquee content off netflix in favor of its own service. and then netflix snatched shonda rhimes from abc. variety got a look at one of the most critical players, the chief content officer, joining us right now the author of that story, variety's new york bureau chief. we appreciate you being here this morning >> thank you for having me >> so, there was another article, not yours, but another that said that netflix wants to be disney. do you -- where do you think this all goes? >> i think netflix really wants to be everything they want to produce content they want to push out the content. they want to have you watch the content whenever you want to watch it and it's changing and revolutionizing hollywood. and it's disrupting people often talk about netflix as a great disruptor. it really is disrupting what the studios do and wrecking models. >> what's going to happen in 2019 how important do you

ride hail hailer.ide betty: paul singer's investment fund has boosted bhp shares, hitting pressure on chemical firm may be key to a takeover. shery: plenty more to come with asia's first major market open moments away. we just had japan trade numbers come in, a surplus here. shery: bigger than expected. the japanese yen continues to strengthen. they could break that 110 level. there could be pressure for the japanese market at the open. have a potential lower open for the japanese market shares given the latest numbers. coming in higher than expected. nikkei futures looking to open higher. coal, and others, treasury wine and wesfarmers, quite a bit when it comes to the sydni trading session. look out for what is going on inh shares of hanks -- banks tokyo. widened.n 2017 the gap a lot going on with the micro sentiment. but we have the dollar softer on the back of the fmoc minutes. the more optimistic side of the asian session. this is bloomberg. ♪ ♪ track your pack. set a curfew, or two. make dinner-time device free. [ music stops ] [ music plays again ] a smarter way to wifi is aweso