bill rhodes has been looking at this for a long time as well. to fix this business? bill: they actually had a minister to cut red tape and did not work very well. this is one of the real liabilities i think brazil has among many. in the sense of getting its house in order. brazil has so much going natural resources, the people the business clash brazil but they are entrenched with this bureaucracy and the inability to get infrastructure done. also, massive corruption, as you mentioned. but for real, the olympics coming up. a great moment for real. brendan: is it? i was doing research last night and i found this thick imf selling in the cap infrastructure investment in purcell. this is what the pan am games were supposed to do, the world cup and now the olympics. again, what will it take to take a megaproject and make it turn into useful intersection investment? juliana: the project -- it would take the project getting the city's needs versus the city trying to answer the project needs. we fell into this cycle of thinking that by breaking these b

we will talk to bill rhodes about puerto rico. this is an american story. thank you.lance". looking forward to it. maker ofhe biggest luxury cars says that a slowdown in china might lead to a rethink on profitability. sales declined and cost the company its position as the world's top-selling automaker. chad thomas is standing by. is warning on china. the whole world seems to be warning on china. chad: good morning. it is a question of if you are looking at it in the short-term or long-term. within the last hour they have cut 16,000 units of production out of china on the market. same to investors. if the market remains weak we may have to cut our full-year forecast. they say in the long-term, china is a growth market where they will continue to invest. is facingbmw increased competition? richard: you hit the nail on the head. earnings aorted couple of weeks ago. record second-quarter profit. despite the slowdown others are mercedes posted sales growth in china and the first half. part of that has to do with mercedes having new vehicles on the market. -- sew s is doin

bill rhodes talks about it earlier on bloomberg. law thatis a 1968 cap's medicaid and medicare.ch wealthier and you look at what they are getting and what the states are getting. it is basically not fair. that is why they should have another referendum on statehood. government officials have yet to say which bondholders may be affected and by how much. major trade deal to overcome their differences. the transpacific partnership would that if it people of all nations and serve as a model of global industry. >> every participant will have to comply with environmental standards. making sure the state owned companies are competing fairly. everyone will have to fight. ensure free and open digital trade and safeguard intellectual property. alix: russia's foreign minister said it is submitting a bid to ,he u.n. for large expanses claiming more than 463,000 expanding 350 nautical miles from shore. a quarter of the planet passes oil and gas undiscovered. that is a look at some of the top stories for this tuesday. corporate america has governance issues. it has not been this bad since the

chairman bill rhodes said the bailout will not work if greek banks knew not bounce back. they have to capitalize their major banks quickly and they have problems. they are nonperforming. unless you get them up in lending, there is no plan for this to succeed. the central bank says nearly 1.3 billion dollars has flowed back into the country's banks since they reopened two weeks ago. cvs narrowed its full-year forecast after retail sales slowed in the second quarter. this overshadowed a second-quarter profit report. and remember those tv ads for viagra? health is dropping dysfunctionctile medication from his coverage. patients can get coverage for eli lilly's cialis instead if they have that issue. competitor will cover vi correct and cialis in 2016. mark: coming up in the next half hour of the bloomberg market day, investment guru with bad predictions for millenials. what he thinks the generation has it tough. ist: and donald trump keeping a significant lead on his republican contenders, but how long can that lead hold up? mark: and then lobsters. matt: yes. lobsters makin

still to come this hour, we'll be joined by market heavyweight bill rhodes. >> does this matter?ningful is today's price action given everything that's just happened? s. >> it's hard to infer a lot of what comes next. people getting trapped, squeezed and trying to overanticipate the next move. we were so compressed we got the lift yesterday. it seemed people felt more comfortable seeing how far we can stretch this thing. i still don't think anything decisive happened. we were taking so much downside. we haven't recaptured half of it. >> kayla, everyone is becoming a technical trader over the last couple of sessions. that's more reason why jpmorgan's technical guys getting a lot of attention for this note that says markets have another leg lower to go. there is a divide and sentiment between the desks and retail crowd. for the sentiments and surveys we follow can be buying or not panicking about this. >> that bearish notice getting play from the people i'm talking to in the markets. i spoke to someone from credit suisse who was pointing out some of the sentiment is overall positiv

they paid less than $1 million bill rhodes talked about the debt crisis earlier. >> they don't get someere is a law that caps their medicaid. 60% of the population is on medicare so if you compare it to a state like oklahoma and you look at what they are getting, it basically isn't fair. that is why they should have another referendum. erik: puerto rico is set to propose a plan by september 1. the governor hasn't said which bondholders they be affected. coming up puerto rico's sole member of congress joins us to discuss the economic crisis at 12:30. this will be a busy day for barack obama. filled with meetings, and it is also his 54th birthday. stephanie: happy birthday president obama. erik: when he took office, he became the fifth youngest president to take office. he doesn't look young any longer. stephanie: does that make him a leo? i want to say, talking about donald trump, do you think people feel strongly in a positive way is because he -- they know what he represents? erik: more people feel strongly in a negative way than those who feel strongly in a positive way. stephanie: bu

in the meeting will bill rhodes recounted in his back castro he said made a startling admission aboutajor mistake he made when it came to cuba's financial system. he says castro said he should have put his gun toting pal in charge of the central bank. >> he said, why i ever did that i don't know because obviously he knew nothing about finance and banking but he said i put him in there because i guess i trusted him. but it was a mistake. >> those three banks still have big outstanding claims against the cuban government worth millions of dollars, potentially billions depending on how they get settled, brian. a lot of old stories coming forward as we start to approach this big event on friday with john kerry here at the opening of the u.s. embassy. >> a big event, michelle. glad you're there for us. thank you. >>> biotechs have been on a tear so far for the year. the bbw etf, up nearly 17% year to date. but some analysts are now seeing warning signs that we have perhaps weechd have reached a tn this red-hot sector. utilities and energy are up. it took joel silverman years to become a ma

rhode island, seth magaziner. and the other was given indirectly to president bill clinton.: if someone says they want to do this, what would you warn them about? and how many total did you go to? kurt: 66 presidential and vice presidential. as far as all the famous graves, probably over 300. i would say, be prepared to invest the time and the money. sometimes, going on the trips if you have a rental car and are staying in hotels, you have to eat. it is going to cost some money. and time and patience because sometimes things are not going to go the way you intend for them to go. sometimes you will get locked in cemeteries and you have to call security or you have to climb over the barbed wire. brian: what stories have we missed that were particularly interesting to you? kurt: i think what of the better stories was the time i met bill clinton. that's a fantastic story. again, my dad waited outside overnight holding my place. he was actually around eight in line at the time. in the morning, we met president bill clinton. it was a long wait in line. once they started letting us

bill cosby. not the friendly father figure of his television character, dr. huxtable. >> cosby has denied the allegations against him and has not been charged with a crime. >>> tonight, rhode island's governor has a essential request for the coast guard and it's all in response to last month's mysterious beach explosion that injured a connecticut woman. she wants all abandoned power cables buried under the sand removed. scientists say the july 11th explosion was call used by a hydrogen build up. they believed it was installed in the 1950s to power the coast guard's navigational lights. >>> if you or anyone you know lives in an apartment building, listen carefully. for months a manhattan daughter waited anxiously for a hospital bed to be delivered for her ailing father. now, insurance approved it and why wasn't it delivered until she said better get bequero. >> devoted daughter amy lee has been helping to care for her husband, benny. >> he has pin been diagnosed at 75 with alzheimer's. >> reporter: they live a few floors apart and recently amy's concern over her dad's health grew. >> one afternoon after taking a nap he went to get up and instead of sitting up he rolled over

republican senator john chafee of rhode island speaking on "meet the press" about impeachment, talking about the ongoing impeachment trial against democratic president billnton. john chafee was one of the last liberal republicans in the senator, one of the last prominent liberal republicans in the country. he had a storied political career. when john chafee died at the age of 77, his senate seat in rhode island had to be filled, and ultimately it was filled by his son. his son, lincoln. linc chafee was at first appointed to finish out his father's unfinished term in the senate. but then he was elected by the people of rhode island to fill in that seat. he went on to have one of the more unconventional political careers out there. he did serve as a republican senator in the seat that had been his father's. he served in that seat seven years. but because he had basically liberal politics, just like his dad did, much of that time was filled with questions about whether he would switch parties and stop being a republican and instead become a democrat. he did not do that while he was in the senate. he then left the senate after that one term and a bit, and th

bill would be a good way to proceed and get something passed. thank you. mr. schumer: mr. president? the presiding officer: the senator from new york. mr. schumer: first, i thank my friend from rhode island. i think there's broad agreement -- i certainly do -- that we want to move to this bill and if given an agreement on a limited number of amendments all relevant to cybersecurity we can get this bill done. but it is only fair on a major bill to offer some amendments and not just to fill the treep and have no -- tree and have no amendments at all. on the issue at hand, i want to thank senators whitehouse and markey and schatz and boxer for speaking today and participating in this colloquy. i join my colleagues in appealing for meaningful action on climate change from this body, which thus far has been stymied by my friends on the other side of the aisle on behalf of special interests. and that is an absolute shame. climate change is one of the defining challenges of our time. left unchecked, a changing climate and rising seas will threaten our shoreline cities and communities which i personally witnessed after super storm sandy buffetted new york. left unchecked a changing climat

bill with no intervening action or debate. mr. whitehouse: reserving the right to object, mr. president? the presiding officer: the senator from rhode island. mr. whitehouse: we've been through this before, so i think the senator from ohio knows what i'm going to say. but the bill that he proposes to go forward on these terms has been paired by our side with the national estuary program which like his bill, is bipartisan; like his bill, is noncontroversial, has been passed over and over again by the senate. indeed, it was originally, i think, the work of republican senator john chafee of rhode island. it has been passed by the house over and over again. this is a reauthorization. if we clear it through the house, it will go to the president for signing. and our bill came through the environment and public works committee in regular order whereas this has come over from the house been held at the desk never reviewed by the committee of jurisdiction and is now being hotlined, which is fine except that i understand it to be a tradition around here that we can pair noncontroversial bills. and yownd why when -- and i don't understand why

bill that would increase funding. firefighters in the state are battling the biggest fire in washington's history. nearly a million acres have burned. that's bigger than end door state of rhodehree firefighters have been killed. thousands evacuated. that one fire a lone destroyed about 100 homes. >> when i was develop, i had a dream that i was going to live in place by a creek and 35 years ago i realized that dream. and now it's over. >> it's like what do you really need to take, your prescriptions, your pictures, you know, things you can really replace but you just get out and be safe. >> reporter: hot weather out west fueling these fires is supposed to cool off over the weekend. but before that welcome relief will come very strong wind storms making dangerous fire fighting effort even worse. in washington, kristin fisher, fox news. >>> now to your fox 29 weather authority. summer humidity returns as august winds down. mike, heat wave? >> september 1st is tuesday, right. >> yeah. >> we're sizzling. we're starting 92 by tuesday. >> wow. >> kick off september. we should be around 84. so that is -- >> above normal. >> fifth heat wave. >>> number five. >> whose countering? >> w

rhode island. i was supportive of his legislation. i am glad that we got both bills done. i appreciate the fact that my colleagues realize the urgency of dealing with this blue-green algae issue which in many cases has become a toxic algal bloom that affects our drinking water affects recreation, affecting fishing and a significant issue in my state and others. i want to report on something that happened this week. i see senator hatch is here shall the chair of the finance committee. and he is away of this. but this -- and he is aware of this. but this week we had a hearing on an issue that's also urgent. it is one that's eminent because right now many u.s. companies are leaving our shores. this means that jobs and investments are leaving america and going to other countries. it's something all of us should be concerned about because it's rapidly accelerating. and i.t. it's because of one simple reason: washington d.c., refuses to reform our outdate and antiquated tax code. it is washington's fault. unfortunately, the brunt of it is being borne by workers across our countr

bill to increase funding for wildfire efforts. they are fighting the biggest fire in washington state's history. more than a million acres have burned, bigger than the entire state of rhodeers killed, thousands evacuated. that one fire alone destroyed about 100 homes. >> from when i was 12 i had a dream i was going to live in a place by a creek. and 35 years ago i realized that dream. and now it's over. >> what do you really need to take, your prescriptions, your pictures, things you can't really replace. just get out and be safe. >> reporter: the hot weather out west has been fueling these fires, is supposed to cool off over the weekend. welcome relief will likely come strong wind storms making a dangerous firefighting effort even worse. kelly? >> kristin fisher reporting, thank you. >>> switching up your exercise routine can be good for overcoming a plateau, but changes can also lead to new risk for injury, and it actually may be hard to tell if the pain that you're feeling comes from simple soreness like i would feel because i never exercised or an actual injury. it's important to know the difference. a doctor from the school joins me now. first, people need to know t

rhode island, state nurse association. largely to medical association, wisconsin public health association. try to do it all in one breath, but couldn't do it. the then senate bill 1182 was then reintroduced by senator fulmer and leach by senate bill three. this passive subcommittee and 47 in the full senate and added a percent is late to help in pennsylvania. those suffering from her pocket pain and other to help diabetes. it was brought over to the house. it is currently being redrafted and fit into another bill. under house bill 1432. we are hopeful about will have a committee by early fall still having fingers crossed. this will be the framework of limited numbers of who can actually open a dispensary's. limited licenses for people who are going to process the plan and they will be 65 licenses for growers, 65 and 134 dispensaries. we are expecting the number will be cut down because there's over 12 million people and how many liquor stores with the arbitrary low number. one of my fears is someone in pennsylvania is going to be in an area where he can't get access to his medicine because someone who wants to open up a dispensaries not going to want to be in a