and on the bloomberg. we start with corporate news. a battle for first face. shares of amazon slipping after jeff bezos slipped from the top spot as the world's richest person. in politics, the senate could end up with a bill that leaves much of obamacare in place. this could put to the republican agenda at stake. julia: u.s. markets close in two hours time, but before we take you there, some headlines crossing the bloomberg. we have been waiting for an announcement of some sort over tax reform and paul ryan is said republicans that the border tax is dead. this was one of the critical issues in tax reform. this was about trying to keep tax reform revenue neutral. one of the ways was a border adjusted tax. about thisn talking 20% tax rate on companies domestic sales and imports. staunch opposition to this. paul ryan is telling republicans that border tax is dead. the question is, if that's the case, how are they going to finance tax cuts? are they going to be just short-term, not permanent? otherwise, you'r

bloomberg.onnie: thank you. p.m. eastern time today, the june meeting will be published. investors will keep an eye on signs regarding balance sheet reductions and looking for clues on whether more fed officials were concerned about low inflation. joining us from newport beach, is pimco's chief investment officer of global credit and manager of the pimco investment grade corporate bond fund, the number one u.s. bond fund over the past 12 months. how did you do it? how did you statement number one bond fund at a time when everyone is waiting for some major capitulation? >> i think it is the benefit of pimco's investment process. we are looking out three years to five years. we have a the picture and enormous team of 240 portfolio managers and 55 analysts. talking specifics. what were the winning trades? we have been positive on housing for the last five years, and the fund has been overweight. investments -- weighted investments and we are favoring consumer sectors. also, we bought energy at the

this is bloomberg. i am alisa parenti. this is bloomberg.bloomberg technology" is next. ♪ ♪ emily: i am emily chang and this is "bloomberg technology." coming up, a bloomberg scoop, china fortifies its firewall in the latest move to tighten online censorship. we dig deep into the new crackdown. tesla's model 3e production goes into overdrive. and, two-time nba champion and emerging investor andre iguodala one timesover, how the m.v.p. is making a big play for silicon valley. first, to our lead and a bloomberg scoop. china is cracking down on what its citizens can find on the web. the chinese government has ordered the three major telecom carriers to block individual access to virtual private networks by february 1. blocking vpns basically shuts down a major window to the global internet that helps users bypass restrictions. thousands of websites are currently blocked in china , including the new york times, facebook twitter, and some , google sites, including youtube. peter elstrom is normally based in tokyo, but joins us from new york today

this is "bloomberg markets" on bloomberg television. tonight on "the david rubenstein show," financier and philanthropist david rubenstein speaks to paul singer, who shares his thoughts on the u.s. economy. >> how do you see the economy right now? >> i'm very concerned about where we are in terms of the financial system, the american economy, the global economy. after nine years of what i consider to be distorted set of policies, completely oriented towards what i regard as monetary extremism, combined with what i consider to be growth-suppressive fiscal tax -- i-- regulatory, think it as created a distorted recovery, partially responsible for this augmentation exacerbation of inequality that a combination of that and the incomplete recovery has caused this middle-class stress and edginess around the world, which has led to some inge parties and french thoughts from populism. after nine years of this artificial levitation on the part of financial assets, high-end real estate, the things that rich people by, what we have today is a globa

this is bloomberg. ♪ vonnie: this is "bloomberg markets."'m vonnie quinn. let's dig deeper into politics. repealing and replacing obamacare. senate republicans are set to hold votes on a number of different health care bills, after vice president pence counts a tie-breaking vote to begin, and is less of other issues too in the budget and the future of attorney general jeff sessions. latest us now with the from capitol hill, bloomberg's chief washington correspondent kevin cirilli. and our political reporter is here as well. there's other things going on in committees right now. >> there's a couple of votes being held on the senate floor right now that will lead to an up or down vote on whether the senate wants to adopt the 2015 bill that repeals the affordable care act, at least it repeals most of its tax and spending provisions including much of the coverage expansion by the exchanges and under medicaid. this is a vote that hard right members of the senate, and senator rand paul of kentucky, had demanded great i spoke to a senior senate rep

this is bloomberg. ♪ mark: anna: this is "bloomberg markets."cans breaking up the grill for the fourth of july celebrations. retail beef prices are down from last year's holiday weekend, allowing the most popular independence day meet to complete with pork and poultry. production is rising for a second straight year, hoping to boost poultry and the outputs to the highest ever. a july 4 story if i ever saw one, this being the day were we celebrate over the united states independence. back with me on set in london, leslie and steve barrow. let's talk about the united states on this fourth of july. i was in the u.s. last week and the divided politics is off nothing. . often a theme. witho you see the politics the hel health care bill? leslie: partisanship is an issue, but it's a very divided country right now. the divisions around health care are very start. k. what is interesting about the health-care debate is that it is now raising questions for republicans who are not supporting the effort to repeal and replace because they are not supporting t

this is bloomberg. ♪ ♪ julia: this is bloomberg markets.hairman of office capital management still very much runs the show at the hedge fund. but the company these days is in the hands of a little-known 40 -- 34-year-old that follows a scandal back in february that spooked clients and blew away one third of oxus assets. assets.ziff who is this guy? he's not a big name in this world. >> not yet, but they elevated him to coach and investment officer. it was a signal that he's here to stay. also, he first met in 2004 as a summer camp counselor. they went on to work at steve mnuchin and joined the distressed -- distress analyst. with respect to the business, he lot to meritne a this. they need him desperately to stay on going forward. >> do you shape the assets of the portfolio? are they where they were with the focus on equities? it feels like a succession plan to me. >> he was in line for one heck of a paycheck. it's incentive to keep him, but sorry about what happened. >> we are not letting him go. it's important for investors to know that d

"bloomberg markets." ♪ mark: top stories from the bloomberg and around the world. u.s.resident -- is u.s. president donald trump about to poke a hole in equities? is changing and the warning signs are rising. u.k. trade secretary is in the u.s. to push for a quick trade deal once brexit is finalized. however, some big barriers may stand in the way. we will look at what could hamper negotiations. and in banking, checking the bar high for its swiss rival. we will hear from the chief executive. following a big earnings report today. have a look at where european equities are trading. gaucher function, stocks are mixed down for third consecutive day, worst run in july. we got it today fed meeting -- we got a two -- we got a two fed meeting. rising against the dollar. euro, what a week it had last week finishing at its highest level since the beginning of 2015 on friday. donna fifth of 1% today. -- down the fifth of 1%. let's talk about stock swings. this is the for france's presidential election, sending the number back to january levels. july pending to be calm for the reg

this is bloomberg. ♪ david: this is bloomberg surveillance.ications buying scripps network. shareshare in cash, $27 a in stock. executives, it seems likely it coalesced at that meeting a couple weeks ago. francine: i quite like this story because it was like a marriage of three and then they pushed viacom out. wortha blockbuster deal $14.6 billion. i was not that familiar with scripps but then i dug into it. scripps owns hdtv and the food network. with these two cable tv programmers coming together, they are leaders in unscripted programming. a massive deal for the kind of market. david: let's get to the single best chart, showing you the bloomberg dollar index, looking over six years. this 30 michael shaoul, point oversold indicator. you said enjoy the good times. and dollar weakness persist be a sign that a correction may be imminent? michael: the dollar is weakening. it is going to change financial flows. it doesn't mean we have a correction coming, but one of the assumptions had was that the dollar would be a source of positive returns. it

this is bloomberg. ♪ ♪ is "bloomberg surveillance."are talking about brexit, the future of what the boe can or cannot do. let me bring a over to my charts. itis my favorite chart when comes to the u.k. you see a inflation picking up, wage growth going nowhere. lord turner, will it tell us about the future of consumers and retail in this country? lord turner: something extraordinary has happened to the u.k. and other economies the last 10 years. p per2000 to 2007, gd capita have gone up. since 2007, there has been no growth. gdp per capita over 10 years is up about 2%, which is miniscule over a decade. wages are down. in 2015,is period 2016, at last there was a slight increase in wages. now we are back to them going negative. in terms of the outlook for the economy, it is depressive. that is why i think the bank of england will not respond to the increase in inflation. i think they will see an increase in inflation, and it will come down. the bigger issue is to try to work out why is this structurally happening? a decade of no growth an

from bloomberg world headquarters in new york here are the top stories on the bloomberg and around the world. president donald trump and the first lady have arrived in hamburg before the g 20. we will get a life report in minutes. during up for tomorrow's jobs report. we will look across the nation with michael mckee. the road ahead for electric cars. we will tell you about a new forecast from bloomberg's new energy finance. we are halfway into the thursday trading day. abigail doolittle is with us now with the latest. >> pretty clearly the sellers are in control. clearly the nasdaq is down the most. being dragged down the most by the health care sector. top point drags on the nasdaq are in the technology space. another top point dragged as the company fails to receive the eye ihs reward on safety concerns. tesla is having its worst two days since february of last year. let's hop into the bloomberg and look at the technical. the stock has more than doubled and see election. what we have going on here healthy consolidation. we have very solid support here despite the fact that the up pr

this is "bloomberg markets" on bloomberg television. the end insight for libor.ll be phased out by the end of 2021. regulators and thanks for try to replace it with a more reliable system since it became the word for corruption after traders were caught trying to manipulate it. financial conduct chief authority andrew bailey telling bloomberg surveillance, the decision was within the scandal. >> we observed since libor was reset post the crisis that the assumption behind the resetting was the transactions in bank funding would reemerge. so, the assumption that we have a market in money that will support libor has not happened. on current structure depends expert judgment by the banks. by the way, they do well. i said it is not another scandal, it is about the long-term sustainability of the structure. reporter suzy, was it always doomed after the financial crisis? suzy: i think so. the question was, why did it take so long? -- there was a lot done around governance. to some extent, it has helped governance within the bank, but it does not change the fact that it

from bloomberg world headquarters in new york, here stories on the bloomberg that we're following.d trump are under scrutiny now as u.s. special counsel expands hiser russia probe. formeriscuss this with director bill gavin. bill.oring the health gop said cbo repeal of obamacare to 32 million more uninsured. run with mlb commissioner toert manfred what he has .ay julie hyman is with us. we can

this is bloomberg. ♪ francine: this is "bloomberg surveillance."'s get straight to the bloomberg first word news. here's taylor riggs. taylor: the white house has confirmed that president trump met vladimir putin at the g20 meeting in hamburg, something that was not disclosed at the time. last night, trump lashed out on twitter, saying the fake news is becoming more and more dishonest. even a dinner arranged in germany is made to look sinister. ecb staff are said to be working on stimulus plans for consideration. according to officials familiar with the matter, no definite proposals have been devised and policymakers have not yet held formal discussions on the end of bond purchases. an ecb spokesperson declined to comment. living standards in the u.k. won't get better for a while according to the institute for fiscal studies. it says real household income has grown slowly since the financial crisis and is set to remain depressed due to cuts to working age benefits. greece's much-anticipated return to bond markets this week has been held off, partly

this is bloomberg ♪ -- this is bloomberg. ♪ vonnie: this is "bloomberg markets.". , ata shares are tumbling the lowest point in a month before the introduction of is a model three sedan. joining us is jamie. i cannot really keep track of this anymore. i was talking to you about the relation investors were feeling that tesla would beg to make 20,000 model threes by december. >> manufacturing is the big challenge at tesla and has been from the beginning. the idea, the design and all of that is pretty straightforward, but actually building them in large quantities is challenging. on monday, we got this positive news, they are on track to start making model threes this week and make them in decent numbers by the end of the year. hear thatwe get to they did have some problems in the second quarter and cannot make enough of the big batteries they need for the existing cars of the x suv. a lot of concern and disappointment. we will see. megan friday, we got another update report and everything goes assuming up. it is such a volatile stock, so many loads, always in a batt

from new york, this is bloomberg. ♪ ♪ this is bloomberg markets. i'm scarlet fu.and i'm julia chatterley. scarlet: banks are about to takeaway the punch bowl of stimulus, and the bridgewater associates calling an end of the central bank era. they keep dancing, but closer to the exit with a sharp eye on everything. top-ranked is economist at hyman -- ed hyman from evercore isi. even though the fed is talking about reducing its balance sheet, the averages are still seeing the line move higher. it is pretty stunning. how does that change how you position yourself, and how investors should? money is for that free. they do deals all the time. andnch of deals today, rates and bond yields are at about 50, 60 basis points. the two-year is -50 or something. might -- bojnd doj might extend the balance sheet, but when they start to reduce that, it is easy monetary policy. one of my dear friends will have a good, long dance here. [laughter] i wanted to ask you about complacency in the markets as well. it ties back into the central bank story in this. they were suggesting that

this is bloomberg. ♪ taylor: this is "bloomberg surveillance." bloomberg business flash. rising to the highest level since the oil price slump in 2014. shell has made deep cost cuts. this eeo is not worried about the move to electric cars. >> the move to electrified the ability in northwest europe, the u.s., and china is a good thing. we need to be at a higher degree of electric vehicle penetration, and hydrogen vehicles, and gas vehicles if you want to stay between the two degrees outcome. a $10 billion facility for filling the taiwan manufacturers' promise to build in the u.s.. foxconn will employee 3000 people at first. it could provide 13,000 jobs. that is your bloomberg is nice flash. tom: what about a charge before we talk fed talk. alan blinder, bill gross, and .ther worthies the cleveland cpi series, elevated above the white line. inflation may be relatively, relatively,-- robustly, felt every day. up it goes, time to raise rates? maybe not. fed that has been overwhelmed by the hard data? not overwhelmed, but the data is not cooperating. they wanted to hike. they

this is bloomberg. ♪ ♪ is "bloomberg surveillance."in new york. wednesday we see the bank of canada out with its latest decision on interest rates. bankamerica of merrill lynch is still with us. nevertheless, this was the bank that started the move in the markets for central banks to take back some of this emergency stimulus. they are out on wednesday, what happens if they don't deliver? kamal: we have about 85% probability of rate hike, so for them not to do that you would have significant pressure on the canadian dollar. central banks historically don't like to surprise markets. the bank of canada wants to signal, not backtracked, so they are going to hike in our view. and commodities in general ed,k of canada, are they link are they really linked into these countries or separate? kamal: i think they very much are. we reckon the bank of canada thinks the canadian economy has whether the commodity price storm -- weathered the commodity price storm. these central banks are looking at the bigger picture. the bigger picture for canada is

anchor: this is bloomberg. ♪ ♪ vonnie: this is "bloomberg best ."obal tour of the week's top business stories on wall street, where a looks to auyout firm future without its founders. anchor: they have just taken a moving to executives in their 40's to prepare for the cofounders no longer being at the helm. they have basically run the firm since then. this has been their shop. people wondered, as they get be inheir 70's, who would line to take over. this answers the big question not just for the public investors and shareholders, but also the institutional shareholders in investments and endowment funds that give to kkr every year. anchor: icv confirming this morning that karen mccall is , and willhe next ceo start her new position on january 8. there were rumors she wanted to go into politics. why she going to itv? >> it does seem like an odd move, going from aviation to broadcast television. she is probably at a point in her career where she would like to try something new again, to some degree. itv is trying to reinvents itself. the question is,

this is bloomberg markets. this is bloomberg. ♪ ♪ 9 a.m.ening in new york city. trouble for this man. feeling the heat. he may be punished for breaking investment rules. looking at global stocks flirting with records, but the world worst in shenzhen. can they break their slump today? haidi: and i'm haidi lun in sydney. also coming up, netflix surging ,ndex traded -- extended trading smashing forecasts in a record second quarter. this is "bloomberg markets: asia." ♪

"bloomberg ♪ bloomberg. is what is next for the gop health bill?berg's chief washington correspondent kevin cirilli spoke to republican congressman jim jordan earlier today. if the crewrly amendment that's in there now that would give people options, create a marketplace. but you can buy plans you might actually want or your family might want. that.k we have to make that was the good part of this legislation. we wish they would've gotten rid of the regulations. it is still a good step in the right direction. we want to see what it looks like but i think it has a real chance of passing. that is what we told the american people we were going to do. that's what we fought so hard on the house side and settled that long debate. it will look favorable. kevin: i was speaking with lawmakers that suggested that while this isn't a perfect health care bill, there are discussions happening. conversations? >> we don't want to put only tax on the american economy. trying to function in this revenue neutral world, it's ridiculous. since when did republicans and c

this is bloomberg. ♪ vonnie: this is bloomberg am vonnie quinn .ck below its price and it seemed like the carnage will get much worse as the stock was down 5% as the series us lockups expired. let's bring in abigail doolittle. is it surprising that the shares are not down more with the potential flood of sellers and supply coming out? abigail: to some degree it is because we have all those insiders who have the ability to sell. it's not known how many shares it is, but it could be 400 million. what this may tell us is the idea that some of those insiders think the stock is worth more than roughly $14 a share or that they do not want to sell under the limelight of this. some are actually kind of bullish. g #btv 8401,t th we see that the stock was down 50%. can you believe that between the ipo and the first locked up in that box? six months later, the stock was actually up 49%, so a big recovery. the auction strategist over at m k m says you want to buy the call on snap. he says he sees something similar here using this president. you may think that

this is bloomberg. ♪ ♪ is bloomberg markets, i'm julia chatterley. scarlet: and i am scarlet fu. violent protests breaking out in hamburg. you're looking at a live shot of the streets of homburg. -- hamburg. we know that merkel met earlier with donald trump, but this is his first face-to-face meeting with vladimir putin that will likely make headlines. joining us live is matt miller, and from washington is kevin cirilli. matt, let me start with you because as we have monitored these protests taking place on the streets of hamburg, i understand that things have turned violent and police are using water cannons and pepper spray. a lot of emotions there as tens of thousands of demonstrators protest on the street. compare and contrast the emotion on the streets with what we saw between donald and angela merkel when they met today? it certainly was not quite as violent. mr. trump and mrs. merkel meeting today. these protesters are set to destroy things, and i think you have to understand german culture of pr

from bloomberg world headquarters in new york, here stories on the bloomberg that we're following. president donald trump are under scrutiny now as u.s. special counsel expands hiser russia probe. formeriscuss this with director bill gavin. bill.oring the health gop said cbo repeal of obamacare to 32 million more uninsured. run with mlb commissioner toert manfred what he has .ay julie hyman is with us. see some market reactions. mixed.stocks are we see a dip earlier from that story about mueller expanding vegs. -- investigation. lot of of the action is earnings driven. we've seen the dow under perform of movers related to earnings. nearly 5%.is down by potential threat coming from unlikely contender, that is sears. theirill be selling kenmore planes via amazon. assures are down by 5%. traveler the biggest insurance wasany, quarterly profits the lowest in 2012. losses.weather related american express earnings hurt by fare expenses. company spent the most in at least nine years on rewards last to competeit tries with likes sapphire from j.p. morgan. ofewhere, we're seeing a bit weakn

this is bloomberg. "bloomberg technology" is next. ♪ caroline: i'm caroline hyde from london, in for emily chang. this is "bloomberg technology." coming up, a change in ownership. we will analyze a u.s. rival's deal. plus, alibaba enters the ring as the fight to dominate the smart speaker market intensifies. how it stacks up against its rivals. preparesesla's model-3 to hit the road, a speed bump for the electric car giant. while tesla's sales shifted down a gear. first, a massive deal in the digital payments ace -- payment space. this comes after j.p. morgan showed interest, but ultimately backed away from the takeover offer. they hope to gain greater exposure to e-commerce retailers and small businesses through the acquisition. for more, we are joined by bloomberg's editor at large, cory johnson. with me for the hour as guest host is martin mignot. now, i want to kick off with cory first. give us the background of this deal. big exposure to e-commerce, smallr exposure to business. cory: why is it base

this is bloomberg. ♪ >> this is bloomberg "surveillance". let's get the bloomberg business flash.tional agency said the rebalancing of global oil markets has become less certain. world demand is climbing slower that estimated. it has faltered to the lowest level since january. oil prices have lost about 16% this year. in the u.k., growth in housing prices cooled in june. the royal institution said the inconclusive election weighed on demand. the index declined to its lowest level in almost a year. a measure of predicted sales over the next year fell to its lowest level in the aftermath of britain's e.u. referendum. tom: thank you so much. what to do at bloomberg news if you don't like muggy, saltry washington, you take a two-day vacation to paris. the president of the united states and the first lady will stop by here for the next number of days. mr. macron joining them. we are all jealous this morning. he opera house is behind you there. how will they greet the president of the united states? >> it is interesting because he has an even lower approval level in france than he does

look at the bloomberg.hat we have is a forecast for earnings per share in blue versus the trailing 12 month earnings. 1.20 per share, about 1.13 last year. the gap between the two is the largest we have seen since 2008. expectations quite lofty going into not just this earnings seasons before the balance of the year. one earnings -- what one company that did not come out so well is black rock. revenue missed estimates. ceo larry fink telling bloomberg it was driven in part by lower performance fees. also, weaker securities lending driven by less antennae activity -- m&a activities. elsewhere, looking at the information reported that amazon web services is said to be discussing developing software for data centers with vmware. fed ex.ownside movers, the company saying its information systems may never fully recover from the june cyber attack that recently and that revenue loss could have a material effect on financial results. tesla pulling back on two different stories. "stareports out of the tribune" that

this is bloomberg. ♪ anne: welcome back. this is "bloomberg daybreak." yen is down for a second day. we have seen the latest core approval data from prime minister abe, one of the things in the mix today. let's get a look at the markets, more broadly with nejra cehic. seeing japanese shares rise for the first time in three sessions on that weaker yen. tiny shares are not reacting positively to that cpi data. overall, the msci indexes rebounding from the biggest weekly drop in four months. we do see gains on the equity benchmark, led by tech stocks. but can the bull survive the signals?ish technical we see a drop below the 50 day moving average? looking at where investors are a little bit more positive here, leverage funds are piling into bets on the aussi and kiwi, the fifth time they have done this in the last 18 months or so. these leveraged funds are at odds with analysts calling for losses. the aussi dollar, one of the best performing g-10 currencies against the greenback in this session, though it is pretty much flat. one of the worst performing cur

tv, and bloomberg radio.o the video stream, plus the radio stream. turnaround. we will discuss the pharma company's future. this is bloomberg. ♪ guy: welcome back and you are watching the open. we are getting a big move on erickson, a company with a new ceo in place. the market was expecting a little bit more not delivering. this stock is now down by 11%. when it was down by 10% it was the biggest move since october 12, 2016. the stock is continuing to struggle. the ceo is still targeting double the margin. so, trying to at least alleviate some of the move this morning, but the market continues to drop this stock pretty hard this morning. 54.90 is where ericsson is trading. let's catch up on some of the other news we are focusing on with the bloomberg first word news update with juliette saly. reporter: u.s. senate mitch mcconnell has abandon efforts to pass a republican only replacement of obamacare. he will instead seek a vote on a simple repeal delayed by two years. they are delivering on seven gop promise

you can find it at bloomberg of them -- tv on bloomberg.s is for bloomberg subscribers only. this is bloomberg. ♪ caroline: a new note from the j.p. morgan analyst says twitter continues to make positive product changes. that includes the interface updates rolled out in june. the also expects more engagement to translate into ad revenue growth. j.p. morgan still has a neutral rating on the stock. tech stocks ended the week on a high note in the united states. the nasdaq recovered a bit from losses last week. here for more reaction, let's bring in abigail doolittle. still with us, david kirkpatrick. take us through the u.s. moves. abigail: a pretty impressive session. we saw a nice rally for all three major averages. the nasdaq stood out. more than 1%, led by lots of big tech names, plus apple. all of these stocks have big games on the day and did not appear to be driven by anything on a mental outside of a boost in confidence and optimism, probably only better-than-expected jobs report. let's look at the group function return. up 17% safe t

this is "bloomberg technology."ing up, the silicon valley view on the june jobs report and the outlook for tech workers with the increasing threat of automation. investigators say russian hackers are chief suspects in a breach of u.s. power plants. we will look at how they may have pulled off the cyber attack and the potential endgame. samsung reports a second quarter for the ages. can it maintain momentum? we will discuss. first to our lead. june payrolls coming in strong, 222,000 positions added. that beat forecasts. but wage growth weaker than expected. check out this chart on the bloomberg. in the white line, u.s. average hourly earnings change year on year. june up 2.5%. month on month, just a .2% increase. we are seeing the lack of inflationary pressure. are the workers underemployed or perhaps technology is allowing employers to hold down wages longer? we are joined by andrew chamberlain, chief economist at a massive jobs database. and our guest host, david kirkpatrick, c.e.o. of techonomy. i'm focusing on th

that, i had on bloomberg businessweek -- ahead on bloomberg businessweek. ♪ >> we are back with bloombergs editor in chief megan murphy. oliver: an interesting story that you guys have on the impact of infertility in china. are awareot of people of the one child policy and now couples are free to have more, what they're discovering is that some of the environmental factors in china, some of the extra activities that are common with chinese men, some of the environmental conditions have not made it ideal to start a family, there is a heavy emphasis on having your own children as opposed to adopting. a lot of couples are turning to fertility specialist. business here, a hughes medical base. in china, this is predicted to be a $1.5 billion business. you said that they are not getting this from chinese companies, they are going all over. we have doctors in california, australia, this will be interesting to watch. see, china going to is already focused on building up its health care center and using property incentives to encourage the rise of a stronger domestic health care system, certainly,

this is bloomberg. ♪ anna: welcome back everybody to bloomberg daybreak: europe.ittle murky in the skies above hong kong. let's get the bloomberg business flash from juliette saly. easyjet will announce its ceo will step down to take up the leadership of rochester idb. according to a person familiar they say she is offered to stay at easyjet while the company seeks a successor and the search is expected to begin immediately. k picked up with john valais and three other executives charged fraud. it's the biggest terminal charge since the financial crisis. month, they this intended to plead not guilty. toshiba has agreed to hold off on disposal of its chip until july 28. it's being contested by a company seeking an injunction. that is your bloomberg business flash. anna:. turn our attention to the united states. mitch mcconnell is postponing plans to debate the health bill as john mccain recovers from an unexpected -- unexpected surgery. even before the delay, the cannot lose a single additional republican in order to pass the senate. the cbo will not release its sc

this is bloomberg. ♪ bloomberg surveillance. i'm taylor riggs. bloomberg business flash. toyota third place in global auto sales up for six months of the year. the japanese carmaker trails nissan and volkswagen. it is now counting sales from its newest member, mitsubishi. posting 37% increase in net incomes, profits in brazil, biggest contributor to earnings,. banco popular are was took over in june after shares were wiped out. ceo is on theic short list of candidates set to run uber. enterprises,rd they say there is a lot of work to do at hp. that is your bloomberg business flash. i'm usually not big on the ceo gossip train. how do you run mega sized companies like mrs. whitman does and bring it down to the entrepreneurial level of uber. fascinating. i will suggest that we will see more names. mrs. whitman stepped out last night. she will not move to uber. she made that clear. nejra: especially fascinating because a lot of controversy with uber about the culture of the company and how much that was down to the previous ceo. and how much a new ce

this is bloomberg. "bloomberg technology" is next. ♪ emily: i am emily chang and this is "bloomberg technology." china fortifies its firewall in the latest move to tighten online censorship. we dig into the new crackdown. tesla's model 3 production goes into overdrive. two-time nba champion and emerging investor i do iguodala making a iguodala is big play for silicon valley. . bloomberg scoop china is cracking down on what it's citizens can find on the web. it has ordered the three major carriers to block individual access to virtual private networks by february 1. it essentially shuts down a major window to the global internet. thousands of websites are currently blocked in china including facebook, twitter, and some google sites including youtube. is normally based in tokyo but joins us from new york today. what do we know? >> china has been playing this game of cat and mouse with virtual private networks for years. for a while, people used a certain vpn and it works to get access to facebook, twitter

this is bloomberg. ♪ vonnie: this is "bloomberg markets." for our report where zoom in on business an analysis on deals. >> another retail deal, a struggling industry. michaeljimmy choo to kors. jab really wants to focus on foods. they recently bought an arab red. -- panera bread. te just saw coach and ka spade merge in may. this is in some way a copycat deal. itsy choo known for high-end women's shoes and accessories. the idea combining this with michael kors, these brands maybe fit together in a better way than what jab wants to do now. perhaps they are able to survive better. vonnie: the premium, is it worth it, how do they compare? shareholders are taking it well. they are up 17% today. michael kors, which has struggled all year, the market not reacting that well. they are down 19% on the year. they are down a little bit today. this is the same story as what we saw with coach and kate spade. michael kors has lost some of its luster due to discounting. it is still seen as a premium brand, but when you have flash sales, you lose some of th

time for the bloomberg business flash. -- this is bloomberg markets.ares higher today after reporting june sales outpacing expectations. model, whichership make up 75% of annual profits, showed the resale or can coexist with competitors like walmart. it seems tesla will have a lead in the electric car race. according to bloomberg energy finance, it stands out. they are expected to sell more than 700,000 vehicles to 2021. tesla releases it's more affordable model three sedan at the end of the month. andin-robbins is delivering hopefully fast, some 600 stores in the u.s. are now drinking cakes to homes through door --. dash.r they plan on delivering to locations as door dash close. -- grows. they will now compete with mcdonald's, who announced deliveries earlier this year. that is the latest bloomberg business flash. vonnie: time for our bloomberg quick take. today, we are looking at japan, tradesigned a preliminary agreement to the european union. japan's prime minister has a bold strategy, shock therapy for an economy that has been stagnant for 20 year

this is bloomberg. ♪ mark: this is bloomberg markets, i am mark barton in london.nie: in new york, i am vonnie quinn. etfs for our tuesday segment. julie: it has been a pretty quiet summer for the market but that has not stopped the etf momentum from doubling its stellar run. with me is eric balchunas who covers etf's at bloomberg intelligence. at smart into flows beta etf's this summer and found a shift toward momentum. is this a matter of stocks going up so people are trying to chase it? eric: performance chasing is really what smart beta etf flows are about except the vanguard value is like a cash vacuum cleaner that will take in money regardless. up 20% this year, double the s&p. here's the thing, when you take a look back under the hood, it is not exactly the academic definition of momentum. lowballalmost like a version of momentum -- low vol version of momentum. ,hat you end up with is stocks a lot of large caps and large caps have been outperforming small caps, and it rebounds semiannually, not monthly. the devil is in the details. when it works, it works. i

is bloomberg. -- this is bloomberg. ♪ john: this is bloomberg markets.arnings investors -- roll out this week. they're also looking to janet yellen's semiannual testimony to congress, starting wednesday. here to discuss this is the bloombergtegist for intelligence. great to see you. earnings are projected to rise. the question is, will valuations and this is expand? >> so far so good this year. valuations are well above long-term averages, and s&p 500 -- forward earnings valuation of about 17.5 -- forward earnings -- it's about 15.5, a long-term average. think we are looking at that are earnings ahead. investors can get confirmation -- that they continue to rise in the quarters ahead, especially in the first half of 2018. comparisons will get a lot harder. that's in the first half of 2018 -- things are looking up, better. you'll feel more confident. that's i think is enough to keep investors interested trade >> i love the point you make about valuations, when you talk about earnings. >> a looks increasingly less-so. >> such an important thing. get caught

welcome to bloomberg markets. ♪ we are live at bloomberg world headquarters in new york over the nextour. here are the top stories we are covering from around the world and the bloomberg. politics, turmoil in the white house and on capitol hill. the republican plan to repeal and replace obamacare collapses in the senate. meanwhile, new communications director anthony scaramucci putting his rivalries on display. and uber to drive change just enough. the former ceo is on the short list in what is likely to be classified as a divided board room. and a potential regulatory changes smoking the tobacco industry. the fda plans to cut the level of nicotine to nonaddictive levels. shares of big tobacco getting taken down along with it. let's get a look at stocks. the dow climbing to a record incj high -- intraday high once again, so more room for equities. tampered bygreen some red. the dow has been bouncing around today. it touched a new intraday high, but it has also fallen for much of the day as well. bouncing between gains and losses. the s&p and nasdaq have been consistently in the red th

this is bloomberg. ♪ david: this is bloomberg. am david westin and we heard from the federal reserve yesterday and pretty much confirmed everything we thought. the fedss the path that is on, lewis alexander and mislav matejka is still with us. , let'sg with you lew start with the balance sheet. they set relatively soon they will roll back the balance sheet and people think september, what to do you think? i thinkexander: september. janet yellen and her testimony made it known they are not particularly worried about the the economy. david: go to what it means. it will be gradual and not abrupt. how does that change the tenor of knows people will be holding?'lewis alexander: they will put out more securities into the market over time as they stop purchasing of those things. moreover, the reserves which the bank hold which has been very large, are going to start shrink. means the, that private market has more duration and the price of duration will go up and a steeper yield curve over time. david: in addition to the risk of private m

this is bloomberg. "bloomberg technology," is next. ♪ emily: i'm emily chang.his is "bloomberg technology." coming up, the debate over health reform is now officially ago after a senate bill that went down to the wire. the latest from washington. plus, a major rival capitalizes on the crises at uber. have business is booming at lyft. fighting words continue to fly between tech billionaires over artificial intelligence. beefs and into the barbs traded by elon musk and mark zuckerberg. first and the league. senate republicans issued a green light to issue debate about health care to the floor of the senate. there's a lot of uncertainty about what plan senators will be asked to vote on. 50-51, withte was vice president pence serving as a tiebreaker. senator john mccain, who helped the development was diagnosed with an aggressive brain tumor days ago. take a listen to his opinion on the repeal efforts. senator mccain: i will not vote for this bill as it is today. it is a shell of a bill right now. we all know that. i have changes that will have to be included to ea

this is bloomberg. "bloomberg technology" is next. ♪ ♪ emily: i am emily chang and this is "bloomberg technology." coming up, sprint is tapping warren buffett and john malone for billions of dollars. will it help turn around the struggling telecom giant? we will discuss. investor revolt at uber continues. some of the first backers are looking to sell their shares. with just a few days until "game of thrones" returns, we are taking a closer look at hbo's standalone streaming service and how it stacks up to the competition. the latest twist in the uber saga. bloomberg has learned shareholders and the board have discussed selling some of their shares to softbank and other potential investors. the deal could include an injection of new money into the ride-hailing startup. it is unclear what valuation the shares would carry or how much softbank or other investors would buy. any private share sale like this would need to be approved by uber's board. for more on this story, we are joined by peter elstrom, cory

take a look at the bloomberg area -- bloomberg. these are the average volumes of the past 20 days. 11:20 a.m., the spike today, you saw that in volume versus the average. things calm down a little bit quickly. he called it very quiet. if you follow the white bars and you come to where we are, you've got volume at 15% low the 20 day average. now, it has come back down. we will keep looking at that and see if other headlines come out as well. one of the groups doing the worst is the financials. they are all under pressure at the moment. at the same time we saw a selloff in stocks, we saw some buying come in. the 10 year yield was pushing lower. that seem to have a ripple effect. showing as is not dramatic a reaction as we saw with the s&p 500. we charted the 10-year is well. we did see something of reaction. you see that drop in yield. that is enough to push down financials and drag down the s&p 500. mark: if you took an early lunch, you could've missed whole thing. vonnie: coming up, how they are hedging their investments. andook at

this is bloomberg. >> this is bloomberg markets.bergme for the business flash a look at some of the biggest business stories in the news right now. second-quarter revenue missing analyst estimates for a fourth straight quarter. this despite a record $74 billion in exchange. the company cited a drop in m&a activity. a proxy fight against proctor and gamble, seeking a seat on p&g's board. stock is underperformed because of what it calls the companies slow-moving culture. p&g says they haven't provided any new are actionable ideas to drive additional value for shareholders. one of two top activists are back in the news. it there's julie hyman with more. >> it has been a busy time for activists and in many cases make cell with their various pushes an activist campaigns. procter & gamble, not much has changed. we will see how it ends up working out. elliott management and paul singer are a couple of names that have been popping up with increasing frequency. elliott management is ramping up a retail targeted campaign to affect them. .hey

this is bloomberg. ♪ yousef: this is the "bloomberg best." some investors are finding lue against again to the sell-off. what is attracting them to nds from the world's biggest gas exporter? >> in terms of the lombardozzi and regional investors, we don't see the enthusiasm to go into qatar at the moment. people are worried that things could be a bit more negative. >> here is what i struggle with, you and a few other gentlemen over the last couple of weeks have maintained cooler heads are going to prevail, they are going to patch things up eventually, no need to think of a dramatic escalation. yet very few of those will put their money where their mouth is and going in with a more aggressive investment strategy. >> i agree with you. everybody is hoping for the est, but the longer it goes, things don't look like they are heading in the right direction. diplomacy, more cooler heads need to prevail. escalation could be bad for all. i worry on the bonds. qatari bonds are probably in every bond fund in the emerging mark space. lots of banks have it

telling bloomberg that j.p.sses eu investment bank, other services will be handled at dublin and luxembourg. for more, let's bring in bloomberg news brexit managing editor. a reset, relaunch, rebound, whatever you call it. prime minister treason may. was it seven tosh by the foreign secretary health scandal dating back decades? >> not the first time. loose lips sink prime minister of ships. declaring there is no plan for a there wasexit because going to be a great deal. suggesting there is no contingency planning. very swiftly came back and said there was continuous planning for both scenarios, putting the secretary back in his box. mark: how it was it received, putting aside foreign secretary? >> you could argue to some party forcingour it to come forward and work on brexit. it has not really been interpreted that way. it has been interpreted as the fact she was asked to seek guidance, more a sign of weakness, having her hanging off a cliff to give you a hand. it is more interpreted as a sign of weak this comes

this is bloomberg. ♪ ♪ this is bloomberg markets.rlet fu with julie hyman and we will take a look at the commodities closed by focusing on companies involved in agriculture. is the third-largest maker of agricultural machinery and they reported sales and profit analysts estimates. joining us is the company's chairman and ceo martin. thank you joining us today. martin: good afternoon. scarlet: let's talk about the ag equipment market. as the market bottomed? see a kind ofo renewed demand, even when the market is down. they don't have it standing around. that means it is a kind of normal need for replacement. your north american market is important, but you get the bulk of your sales from europe, the mideast, africa. it looks like there is something of a recovery in western europe in particular. is that what you are seeing? is it sustainable? martin: we are doing 75% or so outside the u.s.. namely in europe, africa, the middle east. we are also the market leader in south america and brazil. we see brazil coming back. and we also see eu

this is bloomberg. ♪ ♪ welcome back to the best of bloomberg markets.lier this month, the outlook of five oman banks negative. the national bank of oma we n, we spoke to the ceo. ahmed: it has 70 branches and 190 atms across the uae. and saving approximately 500,000 customers. retail banking, corporate banking, investment banking, treasury international and islamic banking. we will look at the results for first half of 2017. it has been three years since the five-year growth strategy, bringing superior customer experience. if we look at the context, went to look at the last three years. the last three years, nbo has been proven to be resilient and represents the market here in oman. it has remained intact despite challenging conditions. the bank continues to be strong. diversewe maintain a portfolio and sustained superior profitability compared to our peers. not just across the region. yousef: i will jump in here to pick up on what usaa. you areyou are saying. what does the road ahead look like in terms of expansion plan, acquisitions? what will keep th

this is bloomberg. ♪ nejra: this is "bloomberg markets."m nejra cehic, in london, with vonnie quinn in new york. vonnie: now to china's better-than-expected forecast gdp, the economy is continuing as a -- at a robust pace. economic growth beat forecast in the second quarter, matching what the economy did in the first quarter at 6.9%. .e were expecting 6.8% this comes as the government is pushing a deleveraging campaign and reducing systemic risk from the economy. but as we saw a earlier from strong export numbers in june, factories in china are picking up the pace. industrial production in june handily beat forecasts, coming in at 7.6% growth year over year. retail sales also doing really well. consumers doing their part to prop up the economy, coming in at 11% growth year over year. that was higher than expected. this as we learned over the weekend that chinese authorities have established a cabinet level committee, with the pboc having more power to keep other regulatory bodies and other insurance regulatory agencies in line as they want