and on the markets, investors are rattled as president trump tells bloomberg news he could step up the war on china next week, slapping tariffs on another $200 billion worth of imports. we start in washington, where talks have continued into the night between the us and canada over the reform of nafta — the north american free trade agreement — ahead of a deadline today imposed by president trump. the president famously called nafta "the worst trade deal in the history of our country" — blaming it for the loss of millions of us jobs and made renegotiating it a campaign pledge. earlier this week he made good on part of that by striking a new deal with the other member — mexico. the two decade old free trade deal between the us, mexico, and canada is one of the biggest in the world, accounting for $1 trillion in business every year. it directly affects the lives of close to half a billion people across the three countries. so what's likely to change? here's one example. president trump has long complained about the loss of us manufacturing jobs to lower wage countries. so in the car indu

and he seltells bloomberg news the russia probe an illegal investigation.ld he comply with a mueller subpoena? 24/7 tech support. yep, thanks guys. i think he might need some support. yes. start them off right, with the school supplies they need at low prices all summer long. now save $150 on this dell notebook at office depot officemax. and if you get lost, just hit me on the old horn. man: tom's my best friend, but ever since he bought a new house... tom: it's a $10 cover? oh, okay. didn't see that on the website. he's been acting more and more like his dad. come on, guys! jump in! the water's fine! tom pritchard. how we doin'? hi, there. tom pritchard. can we get a round of jalapeño poppers for me and the boys, please? i've been saving a lot of money with progressive lately, so... progressive can't protect you from becoming your parents. but we can protect your home and auto when you bundle with us. >>> happening now. breaking news. illegal investigation. the president is railing against the russia probe in a new interview, refusing to say if he would co

the comments from his interview with bloomberg news leaked to a torrent newspaper, causing disruptions in the trade negotiations between the united states and canada here in washington here is what the president said. he says wow! i made off the record comments derng bloomberg and this powerful understanding was blatantly violated more dishonest reporting i'm used to it at least canada knows where i stand. so that's the word from the president confirming that those were his words, saying at least canada knows where i stand and inmating here the leak came from bloomberg but to be fair to that news organization it's not clear that's what happened we don't know the source of the leak somehow the president's off the record comments made it to -- made it to the canadian newspaper. we are taking a live look now at the president who is arriving

bloomberg news markets editor garfield reynolds, thank you. k our gtb library for the charts you just saw on the bloomberg terminal. let's head to the central bank world. the people's bank of china drew a line in the sand with its move to make it more expensive to short they -- short the yuan. in trading today, the yuan is moving about 0.33%. our policy editor is watching this. what is the pboc doing? to what degree is this going to work? >> they are pushing back against an traders. yu last friday, they announced a on reserve are why are meant selected foreign exchange trades. they are trying to remind traders, short the yuan if you want but it can be dangerous. let's take a look at a chart from our library. this shows you for eight weeks in a row, the onshore renminbi has been declining anywhere from 1.7% to 4%. it is the length of decline and it is escalating trade wars. the fed will raise interest rates. the list for the bears on the chinese currency are a slowing gdp in china, rising debt risk as the yuan weakens and liquidity gets more sca

we are joined by bloomberg's had reporter who wrote about this in the new issue of bloomberg markets.hy are they the new kenzie and's -- keen easy and's -- they believe for a role of central bankers to correct a role in markets. what they believe they have to correct is when you have inflation problems. it goes back to milton friedman. before him economists believe the government had a role to play in promoting full employment. milton friedman came in and said there is a natural rate of unemployment you can't do anything about and therefore monetary and fiscal policy makers should be the economy alone. came along andan said there is a role for central banks, due to certain quirks in the way the economy works. that is why we have the inflation targeting central banking paradigm across the world that we have today. it stems from the work that some thehese key players did in 1990's. that is how we got to where we are. you mentioned coming days at a time where paul walker was playing inflation hard and using monetary policy very stringently. >> that is exactly right. in 1979 we had 50% in

you can also check out the latest headlines on bloomberg. from newa, returned to court to testify on how he helped his former boss, paul manafort, conceal millions and defraud banks to get loans. gates testified today, manafort kept his name off foreign accounts he used to receive payments for consulting work in the ukraine. any gates is at fault for wrongdoing that occurred at the global political consulting firm. president trump passes national security via -- advisor says removing sanctions against iran are meant to pressure the government into a broad retreat for its support for international terrorism, military activity in the middle missile andllistic nuclear weapons programs. john bolton was asked if he has concerns that countries like china and india and russia might employ a strategy to make u.s. sanctions less effective. >> no. actually, we're working with -- to reduce oil imports from iran to zero. we are making progress on that. we think the sanctions are biting already and will continue to bite.

this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. loomberg markets. vonnie: time now for futures in focus. markets, withng stagnant u.s. drilling. and copper is climbing on hopes that the u.s. climate trade tensions may come. but bring in a chief market strategist. let's go to the oil markets first. was it focused on this week? marketsuch all of the and trade talks and nafta talks. slide in oil and an increase in stocks and demand, but you're still seeing a record refinery output. inkling forsitive u.s. oil? rent supporting cheaper oil expected to see a little bit more oil. the chinese talks going back and forth. the chinese toss will be offset because china is still buying iranian oil. buy u.s.ontinue to oil, they will be hit with more sanctions. that could determine a lot different outcomes with the talks. we will see how that plays out in the near term. still holding steady at 869, still the highest since 2015. there is a huge net long speculation in the market that should restrict any fresh buying. if we can't hold that level, you

from new york, this is bloomberg. ♪ live from london, i'm mark barton. lie: from new york, i'm julie hyman. this is "bloomberg markets." let's check in on the bloomberg first word news. here is kelly. >> the leaders of north and south korea have agreed to hold their third summit of the year. althoughno exact date the two sides say it will take inace sometime september. this amid slow efforts to get rid of the nuclear weapons. theresa may is running the risk of angling europe skeptics. plan. drawing up a it is an attempt to break the deadlock in negotiations. her team is working to resolve the biggest issue, how to avoid a hard border with ireland. former white house aide omarosa has released another secretly taped conversation. this one with president trump. according to the recordings, the president told the former reality show bill and he did not know she had been fired from her job. the white house blasted omarosa for taping her firing a secure area. she is not publicizing her tell-all book. global news 24 hours a day on air and on twitter powered by m

thank you so much, john, editor in chief of bloomberg news. we will have more on this coming up. k, this is bloomberg. ♪ ♪ caroline: president trump has been speaking with bloomberg news in an exclusive interview and peter joins us with a highlight. for us it was talking trade, wto, tax in terms of inflation indexing the overall capital gains tax. for you, was it all about the fed. peter: what i thought he said about the fed was heartening to jay powell, but to me, the indexing of capital gains issue is fascinating because, on the face of it, it seems reasonable. why should people pay tax on a phantom gain just to be inflation increased and the value and asset? when we take a closer look, it turns out maybe to be not such a good idea. two thirds of the benefits will go to the top 1/10 of 1% taxpayers. only 1% of the entire game is due the bottom 80% of taxpayers. caroline: in my right-thinking quite a few of the policies have helped the wealthy even though they are spoken to help the masses. peter: oh yeah. furthermore, it is not just the skew onto gets it, but in a very the gover

this is the headline from bloomberg news. wage pickup stays elusive.he covers all of this for bloomberg news. thank you for being with us. rates,gard to interest where does this put the fed? guest: this report is one of those that needed a second look. the headline number of 157,000 july, that was a bit softer than what bloomberg economists had expected. with the revisions in the prior couple of months, it pushed the number up to the net where it should have been. overall where that leaves the fed is on the same path that was already on. this is not a report that is a down arrow at first reference, but it isn't the robust job gains that would rattle the fed and require a higher pace of interest rate increases in order to cool down the market. all in all, it was a positive report. 000 jobs is nothing to laugh at. it pumped up the number overall. there were some positive signs in this report. manufacturers added 37,000 workers. that's the most all year. we are seeing for the past few quarters those gains and that continues. the unemployment rate tighteni

mind today, tweeting throughout the morning at the white house and giving that interview with bloomberg news, making news about jeff sessions, saying he will keep him on until november. that's going to be something that's going to make republican senators and house members very pleased, they're worried about fallout from any firing that could happen. wolf, we'll see what the president says tonight in indiana. this is part of his midterm election push. republicans are trying to win the senate seat. now it is held by incumbent democratic senator joe donnelly, one of the red states the white house is hoping a republican will pick up in november. we'll see what the president addresses tonight. he certainly made clear the russian investigation is weighing heavy on his mind. wolf? >> as it should. jeff zeleny in indiana. thank you very much. let's talk about the breaking news on the president's timetable for potentially firing jeff sessions. our political correspondent sara murray is here. he says his job is safe until election day in november. what are you hearing? >> he is saying that sessions i

trump telling bloomberg news that sessions' job is safe until the midterms, but declining to comment really beyond that. which is not exactly a ringing endorsement, right? but it's par for the course for a president who's been slamming his attorney general ever since sessions recused himself from the russia investigation. >> i'm very disappointed with the attorney general. >> the attorney general made a terrible mistake when he did this and when he recused himself. so he made what i consider to be a very terrible mistake for the country. >> i put in an attorney general that never took control of the justice department, jeff sessions. never took control of the justice department. and it's a -- it's sort of an incredible thing. >> so in that same interview, the president, who's supposed to be defending the rule of law, said he considers the mueller investigation to be, quote -- this is a quote -- an illegal investigation. illegal? okay, so, listen, i just -- we showed this to you, but i need you to take a look at it again. the docket officially appointing robert mueller as special coun

this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn and this is the european close on rkets. we have another paul manafort ally pleading guilty and agreed to cooperate with u.s. prosecutors in a trial in washington, d.c. closely followed by the robert mueller staff. greg farrell joining us. the former associate of pulmicort, who is he -- of paul manafort, who is he? >> well-connected in ukraine and russia. the accusations in which he is pleading to today is collect with another basically local friend and a man believed connected to the russian kgb, the current version of the russian kgb. vonnie: draw the line between u.s. prosecutors are doing and what the special counsel is doing and how a guilty plea here will affect anything going on here? >> the move today is not directly part of robert mueller's investigation, it is tangentially involved. when robert mueller comes across what he believes to be criminal conduct that is not in his wheelhouse, he pushes it or let some other group prosecuted. this is the u.s. justice department national security division. , even though

this is bloomberg. ♪ ramy: welcome back. i'm ramy inocencio in new york. i: and i'm haidi stroud-watts in sydney. you're watching "bloomberg daybreak: australia." new zealand will ban farmers from buying homes, saying its citizens should not be outbid by wealthy foreigners. what prompted this latest variation of this law? view for some nt time has been that house prices have been going too high too fast and homeownership rates are the lowest since the 1950's and there's a number of reasons for it. poor supply, population growth but labor and opposition particularly eached foreign buyers certainly in auckland and queenstown as the reason and late last year, there was a the president. she felt it was new zealand's birthright to enown its own property and foreign investors are outbidding locals. rishaad: does this mean that every single foreigner can't buy in. are there any caveats? >> certainly it's going to be quite difficult to buy an existing house because of complications around existing trade grease. citizens from australia in singapore will be able to b

this is bloomberg. ♪ s bloomberg. ♪ >> through :00 p.m. in new york, 8:00 p.m. in london. ne: i am caroline hyde. welcome to "bloomberg markets." caroline: we are life and in bloomberg world headquarters in new york over the next hour. your other top stories on the bloomberg and around the world. developing economies get punished this month. will september be any better? getting tough on tech -- president trump tells bloomberg news that the likes of google, apple, and facebook made the and antitrust situation. and coca-cola agrees to buy the u.k. chain costa coffee, stepping into the battle with the likes of nestlÉ and starbucks. before we get to markets, canada's foreign minister stiaster freeland -- chry freeland has scheduled a press conference and she has left the office of the u.s. trade representative. will canada have ideal to join the bilateral agreement with mexico and the u.s.? lisa: that is at 4:30 after markets closed. right now relatively small moves. action for the major averages. the dow in the s&p 500 down for the second in a row. nasdaq managing to eke out

adelstein is interviewed by bloomberg news tech reporter todd shields. todd: i am interested in the 5g. a lot people are. what are the benefits of 5g? mr. adelstein: you have smart cities where you can do any services online, you know where to park, traffic will be improved. the benefits go on and on for consumers, to the overall connecteding that are and growing faster, if we get it right. >> watch "the communicators" monday night at 8:00 eastern on c-span2. >> today, the american institute of certified public accountants holds a conference in washington on changes to the national audit manuals and cyber security fears live coverage begins at 9:00 a.m. eastern on c-span2. >> good afternoon. let's get this level appropriate.

remember, bloomberg news can interact with all the tribes you see here. ew york and toronto, this is bloomberg. ♪ scarlet: it is 7:00 p.m. in london. i'm scarlet fu. julie: i'm julie hyman. welcome to "bloomberg markets." ♪ scarlet: we are live and bloomberg world headquarters over the next hour. here are the stories we are covering on the bloomberg and around the world. from leading sprint back from the brink of collapse, ushering in a new wave of tech investing, we will speak with the executive at the center of it all, marcelo chairman of sprint and see 00 of softbank. another bloomberg exclusive. hardy city joined the parade of companies looking to amazon for growth. how he is navigating a world with increased online cap edition. keeping the pace. bill gross's boss says the manager's performance has been "disappointing." strongs he is still a player. we have u.s. markets closing in two hours. let's get a check on where stocks are trading in the case of the dow, not by much. >> not really. we are seeing a mixed

today the president of the united states conducted a wide-ranging oval office interview with bloomberg news. discussed, aics capital gains tax break, the wto, attacking social media giants google, amazon, and facebook, the president's feelings about fed chair jerome powell, and the job security of his embattled attorney general, jeff sessions. joining me from washington, john mickelthwait, who helped conduct the interview with president trump. here in new york, peter coy. let me start with you. i have to ask, the mood in the oval office. we have been hearing a lot of reports about tension in the white house, particularly in the west wing. what was it like? john: i would describe it as kind of italy and -- him as kind of a boolean -- of ebullient. as far as he is concerned he is doing a wonderful job, and the world should hear about it. he doesn't -- self-doubt is not an immediate makeup.his he's bouncing. he thinks he has engineered a wonderful economy. he thinks he is winning trade wars. makeup. you can throw in all kinds of buts, but that's the way he's looking at it. mark: john, i mentio

this is bloomberg. ♪ >> live from new york i am vonnie quinn. e: i am romaine bostick. tweets taking a backseat over at tesla as investors put the go private saga in their rearview. attention now turning to the model three production. joining us with more is bloomberg auto reporter craig for dell. are we really putting this all behind us? is the focus really on the production of model threes, where does production stand? >> sec inquiries and the investor lawsuits are nowhere near past us, but the attention will be turning back to some familiar subjects. the model three and how that interrelates with tesla's caste position which remains precarious in the grand scheme of things. the bloomberg model three tracker that was built earlier this year by tom randall, a reporter here, does show that over the last few weeks somewhere in the range of 4000 to 6000 model threes are being built a week. that shows that the momentum that tesla built up at the end of june when it crossed that 5000 threshold that it targeted for so long and struggled to hit , they

one is the president is throwing bloomberg news under it bus in those off-the-record comments. we don't know who leaked these comments there are a lot of people who would have presumably had those transcripts or copies of that tape we certainly don't know if it was somebody inside bloomberg news, and the president's right off-the-record is a term of honor. it is an agreement between a source and a journalist that the comment is made in privacy it means that the journalist can't repeat the comment but the journalist can then take that information and go dig further to find out whether they can find another source that can confirm it but generally reporters like myself and our colleagues at bloomberg honored that to the point of being willing to go to prison in order to protect those sources. it's a very serious thing in our profession, and we saw the president there suggesting that bloomberg did not in fact honor that we just don't know if that's the case >> he also got that part of the story wrong, eamon he said they printed those comments and said it was off-the-record it was

in a wide-ranging interview with bloomberg news tonight he said jeff sessions' job is safe until november but in true trump fashion declined to say what would happen after that. and as the nation mourns john mccain tonight president trump refused to back down from his failure to pay tribute to the late senator. we have a lot to discuss. i want to bring in first margaret, cnn political analyst and senior white house correspondent for "bloomberg news" and margaret, good evening to you. we're going to get to the rest of the folks in just a minute. margaret, you there? >> i'm right here. >> all right. good to see you. sorry. we brought ourp manual who's next. michael dantonio. david swerdlick. you asked president trump about whether he would comply with a subpoena from robert mueller, what did he say about that and the investigation? >> don, he said he'd have to wait and see and then quickly reframed it and said he didn't see it that way because he saw mr. mueller's probe as a, quote, illegal investigation. he said that all the great legal scholars had also concluded that there should never h

global news, 24 hours a day, on air and at tictoc on twitter in more than 120 countries, this is bloomberg you, juliette in singapore. the u.s. is expected to impose new sanctions on russia today over the poisoning of a former agent in the united kingdom. the measures were announced earlier this month. considered sensitive our national security grounds. joining us from moscow is gregory white. is inie hordern london with the other angle on this. let's come to you first. this?s the latest on we have seen the u.k. foreign secretary in washington calling for more action on sanctions,. -- sanctions, but bring us up-to-date. was praising the trump administration and government on terms of shanshan sanctioning-- russia. we saw that you act in march. is really an opportunity for the u.k. to come out a little bit harder. they are negotiating a brexit deal. insult.veiled as of now, about 700 russian as well as the government are sanctioned. the sanctions today have to do with u.s. goods and technology. lasers, electronics. technologies about oil and gas. in 90 days, we can see more sweeping measure

the comments, from an off the record interview with bloomberg news during some difficult challenges intohave edward lawrence who is live in washington with the latest on this. >> of the canadian minister of foreign affairs just literally walked inside for the afternoon meeting here. the talks have certainly soured in part because of the issues but also because of this report that you are referring to. the toronto star is reporting off the record remarks to bloomberg by the president of the united states where he said he would not compromise with canada, but he can't say that publicly because it would be too insulting. officially, the white house will not confirm the remarks but they are saying that their negotiators are working for a win-win deal. christina freeland said that they are not there yet. >> we are committed to speaking for canada to a deal which is a good deal for canada, not just any deal. we are very good as canadians at finding win-win compromises. after at the end of the day thoe will only sign a deal that's good for canada. >> canadian prime minister justin trudeau said

stephen engle, bloomberg news, hong kong.a is home to 4 of the world's 10 most valuable startups. goldman sachs estimates the company has raised $31 billion in venture capital in the second quarter, beating the u.s. for the first time. the backlash against didi shows how the combination of skyhigh valuations and pressure from investors to produce returns can lead to missteps, undermining public trust at a time when a slowing economy is already fueling middle-class anxiety. is china falling out of love with its unicorns? maybe this one. joining us now is selina wang. the story, there is much more to it. first of all, not just one woman murdered allegedly by a driver, but two, and also there is reporting that there are in fact dozens of sexual assaults and harassment complaints tied to didi drivers. selina: right. this isn't the first time they were suspended because of these alleged cases. this is the second murder in just the span of a few months. what is especially concerning, just a day before the murder happened, another w

joe in washington, our bloomberg congress editor. breaking news crossing bloomberg. an yum date. national australia bank expecting additional provisions in its second half 2018 results, nimba interests declining slightly in the third quarter. profit reported amount 1.65 billion aussie dollars there. we're rounding up some updates from australia's big legenders that have been wildly profitable but have come under quite a bit of reputational pressure as a result of the ongoing investigation into financial misconduct. >> another of our top stories, investors are divided on tesla's privatization push. the tweet was based on discussions with the saudi sovereign wealth fund. musk said he left with no question that a deal with the p.i.f. could be close. let's go to tom giles in san francisco. does this change anything with this s.e.c. investigation of mr. musk? >> well, it certainly gives us more clarity on why he was so optimistic when he sent that tweet about $420 a share. they'd had these meetings. his optimism was based on what he said was a clear indication from the saudi sovereign

this is bloomberg. ♪ vonnie: live from new york. pleen: this is bloomberg markets.nie: soup for sale. campbell's has been under pressure to find a buyer amid a slump and a sliding stock price. despite hopes for sales of the entire company, the packaged food maker will tur sue a turnaround plan selling only parts of itself. joining wuts latest is bloomberg's craig. is this the final word, or is this the interim c.e.o.'s word? craig: that's a good yes. they're making pains to say this is not the final word, emphasizing they're open to all options. this is the first step that we looked at this for three months and decided this is what we need to do. so this doesn't feel like the final word by any means, especially because we have not heard yet from third point. romaine: what's the reason why they didn't just go for maybe a full sale as it seemed like that was the direction that most investors thought they would go? was it just not interest? craig: there's a lot of commentary leading up to it from the sell side that they needed to pay down debt, that there might not hav

this is bloomberg. news, fcc hasing made inquiries over elon musk tweet saying he's considering ating his company private $420 a share according to a report from the dow jones. the have made inquiries over this tweet and examining whether the statement was truthful. jones. according to dow tesla shares following to session lows. julie: this killing concerns about what does that mean. funding is secured. it is a serious question. >> the board statement didn't clear anything up. scarlet: if anything no decision has been made. it is just what was on his mind and his thinking going forward. 2.8% at the down moment. madge group feeling the love. the company behind tenter, okcupid and match.com saw a major bump in shares after earnings eat analyst estimates. more, sean, look at the numbers for the second quarter. revenue jumping 36%. eps, 40% per share. this is thanks to tender. competition for match? >> for the moment match is a monopoly. no one has been able to phase them down. direct revenue growing 136%. they

this is bloomberg. ♪ live from new york i'm vonnie quinn. is is the european close on bloomberg markets. courtney donohoe has first word news. >> argentina's bank has taken a step. it raised its benchmark interest rate. the highest in the world. said he asked the imf to speed up payments from a credit line and i was to show the country have enough cash on hand to fund next year's budget without going further into debt. trump administration is backing asian-american students who are suing harvard over there a permit action policies. ae justice department file statement of interest supporting the plaintiffs. they claim that harvard has cap the number of qualified asian-americans and accepts. harvard has asked for the case to be thrown out. americans can't shopping last month and inflation hit a six year high. consumer spending rose fortunes of a percent for the second straight time. the fed's preferred measure of inflation growth in annual rate of 2.3% and that is the highest since 2012. iran's nuclear agreements will be at the top of the agend

this is bloomberg. newsnctions on pressure over the use of chemical agents in the united kingdom. the headline just crossing. we are getting a reaction in the russian ruble. this is the dollar strengthening. the ruble at 65 per dollar. the weakest level since november 2016. the u.s. has determined pressure broke international law when it used the nerve agent as it tried to assassinate certain scruple -- a russian agent and his daughter. that is two days ago. sanctions would take effect around august 22. julie: there have been questions on whether the u.s. would issue these sanctions, or issue a stronger statement and it comes to this poisoning. the u.k. has been outspoken on this. when president trump visited there were questions about whether he was going to discuss this with theresa may, and whether the u.s. would be supporting the u.k. position. scarlet: the relations between the u.k. and russia soured after this poisoning. there are questions over whether president trump would wade into this. he did not

click, call or visit a store today. ♪ from bloomberg world headquarters in new york, this is "bloomberg fu. lisa: i'm lisa abramowicz. let's go to first word news. mark: the treasury department says russia is "malign conduct to man's a firm response." the u.s. is imposing sanctions of the owners of six russian ships that allegedly helped transfer oil products to north korean vessels. authorities say that violated sanctions on north korea that are designed to pressure kim jong-un to get rid of nuclear weapons. over thens confused new banknotes popping out of their atm's today, resorted to using caps on leaders and conversion charts to figure out the value of the -- each bill. the currency as part of president nicolas maduro's economic plan meant to confront runaway inflation in -- in a plummeting the company -- economy that is pushed venezuelans to leave the country. economists feel the measures will bring misery to the once wealthy opec may nation -- opec nation. the country is ready to become "normal again." address, heed declared greece has regained its financial freedom after years o

new york. in sydney, this is "bloomberg markets: asia." david: stocks across asia-pacific are following on the last day of the month. investors fall -- fear president trump will hit china with massive tariffs. tariffs, the wto and the present of the fed. the president speaks to bloomberg in the oval office. david: emerging markets tumbled. falls, key interest rate hits 60%. warren buffett is still buying stocks, saying he's in it for the long run. he is heavily -- he says the iphone is heavily underpriced. some much-needed good news for the asian session this friday. trade concerns, china coming through for august. both of those numbers, nonmanufacturing coming in at 54.2. is beyonding pmi 51.3 expectations of 51. also picking up from the previous month and, dave, we are getting a picture of mild expansion momentum in china. early indicators show that we would see that kind of steam but this could change. if the president -- the u.s. president, that is, goes ahead with additional tariffs on $250 billion worth of chinese goods. it is certai

julie: his loss has been bloombergs gain. in new york, i am julie hyman. markets."s a look at the bloomberg business flash. shares of jcpenney are falling. they posted a bigger than estimated quarterly loss. things are not likely to get better anytime soon as jcpenney lowered its forecast for the year and is predicting a loss. a private equity giant lands to stay private. the founders have flirted with selling shares but now tpg is deciding to remain an old-school partnership. tbg isrg has learned considering other -- as well as a possible share of stakes in the company. a british websites comparison prices fell. amazon is holding talks with insurance companies about creating a rival website. reports say there are no imminent plans to launch a site. that is your business flash. as the u.k. continues to grapple with reaching a brexit deal, people are preparing for the worst. bloombergs francine lacqua spoke with iain duncan smith about brexit, boris johnson's controversial remarks and free speech. >>with iain duncan smith about i think what business needs is to arriv

from new york, this is bloomberg. ♪ berg. ♪ ♪ from bloomberg world headquarters in new york, this is ts." i'm scarlet fu. julie: i'm julie hyman. let's get to first word news with mark crumpton. nafta negotiations resumed today in washington at the office of the u.s. trade representative. imminent,deal is mexico's economy minister says there is reason for optimism. come to a new meeting with review. if we are resolving the remaining issues, and we still to advancemmitment to the solutions that are required. mark: canada is expected to rejoin talks once u.s. and mexican negotiators wrap up their deal on cars. russia is complaining the new round of u.s. sanctions are not in line with constructive atmosphere at the helsinki summit. threatening to retaliate or u.s. send imposing these sanctions to punish president "bloomberg markets: balance of power." -- president putin's government for the attack. the u.s. government's investment review panel is questioning chinese conglomerate hna over its ownership of a manhattan building near trump tower. the company says the committee on foreign inv

if you like bloomberg news, check us out on the radio, listen on the bloomberg app, and in the u.s., on sirius xm. this is bloomberg. ♪ emily: the second annual players tech summit is underway. it is a gathering of world-class athlete, entrepreneurs, taking place right here in san francisco. since my next guest joined the nba, he quickly made an impression on and off the court. jalen brunson is with us here now. you're 21 years old, you have obviously made an impression in the basketball world itself, but you also interned at a venture capital fund, hosted a tech summit, what are your goals off of the court? jalen: that is a long-winded type of question. basically building a rolodex and finding the right resources to put myself in a position to be more successful than i was last year and the year before that. emily: what have you actually done so far? i know you are educating yourself, talking to people, and you're not educating -- not investing it, but are asking. jalen: i give a lecture at harvard on indication -- education. talking about connecting worlds between basketball, busin

life from new york, this is bloomberg. ♪ -- live from new york, this is bloomberg. ♪ shery: this is bloombergbalance of power. china is doubling down on its trade rhetoric. that president trump's belief that he is winning the trade war is wishful thinking. this is a trade war that ironically will make america poorer because our consumers will pay more for the products they buy and our producers will be less competitive because they will be pay more for inputs. china --hink globalization. developingna is still, in terms of its average income, country with average standards of living like those thehe united states during 1930's. so it's context is very different. there will be -- so its context is very different. there will be competition from various places. i think the principle risks have been self-inflicted wounds, brexit. new york will have to make a variety of strategic decisions but should be able to maintain a major role in financial services for a long time to come. david: that was larry summers speaking to us earlier. he is on the advisory board for the bloomberg new economy form that

live from new york, this is bloomberg. ♪ live from new york, i am shery ahn.aine: i am -- romaine bostick. shery: turkish court has release an appeal to american pastor. the credit rating agency saying the turkey moves are insufficient to restore policy credibility, incomplete response cannot address the cause of the lira decline. s&p coming out today with some sort of rating on turkish debt. how dire is the situation in the country? >> the situation is pretty tough. the currency has lost somewhere between 35% and 40% of its value this year. inflation is running at about 15%. this is a country that requires some level of market stability because they depend on $6 billion per year in inflows to balance the current account deficit. the situation is tough. romaine: what has been the market response for the measures that erdogan and his deputies have taken so far? rose,terday, the lira strengthened a little bit during the conference call by the finance minister to outline some of these messages. the fact he was reaching out gave the markets some level of confidenc

this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. ark barton and this is "bloomberg markets" on bloomberg television. time for a look at some of the biggest business stories in the news right now. take over in the packaging business. rival,g to buy the u.s. a deal valued at almost 5.3 billion dollars. it is allowed to expand packaging in america's and it is their biggest acquisition ever. first woman ever to head pepsico is stepping down. that is the big news, ending a 12 year run at the food and beverage giant. will remain chairman until early by candidateplaced to take over since being promoted to president last year. goldman sachs is named a cohead of its trading arm, jim esposito will run the securities unit. based in london, currently the co-chief operating officer of goldman's fixed income trading business. google plans for china more ambitious than previously thought. talks began earlier this year and now google has narrowed its partnership candidate to three companies. latest bloomberg business flash. vonnie. facebook, essenti

up next, in the wake of indictment of new york congressman chris collins, bloomberg finance reporter ll allison will join us to discuss the rules members of congress have to abide by when trading stocks or serving on the boards of major corporations. later, new york times tehran joins chief thomas erdman us to talk about his extensive travels throughout that country. we will be right back. >> saturday morning, book tv is live at the mississippi book annuall for their fourth literary lawn party at the state capitol in jackson with discussions on race and identity, southern history, u.s. politics, and leadership. authors include the author of davis with his book the gulf, the making of an american city. and the great revolt, inside the populist coalition reshaping politics and author frank williams with lincoln as hero. join us saturday beginning at 10:00 eastern for the mississippi book festival on c-span2. historiesnday on oral , we continue our series on women in congress with former democratic congresswoman could -- -- with former democratic congresswoman good -- with former democra

he told "bloomberg news" jeff sessions' job is safe until november. that did not stop the president from going after the justice department at the rally thursday in evansville, indiana. >> our justice department and our fbi have to start doing their job and doing it right and doing it now. what's happening is a disgrace. and at some point i wanted to stay out, but at some point if it doesn't straighten out properly, i want them to do their job. i will get in there if i have to. >> reporter: he made that suggestion from time to time that he will get involved. he has not yet done so. his lawyers and others have warned him against interfering in the russia investigation. trump had russia on his mind as he rallied republican voters in indiana. focussing on the 2018 midterms. even if he talked more about his races in 2016. dave and kaylee. >> thank you, jeff. president trump telling allen weiselberg that cohen did not cooperate in the investigation. weiselberg reimbursed cohen for the hush money to stormy daniels. the president doesn't seem concerned about

from new york, this is bloomberg. ♪ ♪ york, i'me from new julie hyman. rton in london. this is the european close on bloomberg markets. global markets are in summer selloff but winter is coming. there is a game of thrones underway at the ecb. mario draghi's term ends next november and we are getting clues over who is in the running for the job. joining us is nicolas comfort. of the banking supervisor, whoever it is, he or she, we might be able to gauge who the next ecb president is. let's start with who the might -- who might the next banking supervisor be, which is clearly one of the top jobs. nicholas: i would say it is more a question of who doesn't get .he job of the presidency let's face it, in europe there is a delicate balance between countries. the bankuntry gets job, it is hard to imagine that same country getting the presidency as well. if you had a german top banking supervisor, imagine how the italians and other countries would be annoyed if they got the presidency. it kind of rules out your country by moving for the smaller job, and maybe you

live from new york, this is bloomberg. ♪ shery: this is "bloomberg markets: balance of power." t is time for the stock of the hour. shares have fallen after the company said it was canceling plans for a new crossover model from china. the reason? paris. now is taylor riggs. morphology of the trade tension. taylor: the 25% tariff starting to hit and starting to hurt companies like ford. particularly the focus active, which is a car made in china that they were going to pull over here. we have a quote from the president of a north america division of ford. he came out and said we have to make a judgment call on profitability, we view the focus active, given that tariffs are cost would be higher resulting profitability of the prophet. resources could be better deployed. they were only going to import about 50,000 of the cars back here in the u.s. i think they are cutting their losses. ford is making a conscious effort not to sell small sedans, passenger cars in the u.s. anyways. a lot of it has been focused on the bigger cars and trucks. anding their losses here profitability. we h

scarlet: we are live and bloomberg world headquarters in new york over the next hour. here at the top stories we are covering on the bloomberg and around the world. when trillion dollar milestone. apple becomes a first u.s. based company to hit that number. charge.lls the shares soaring after results show the electric carmaker burned through less cash than wall street expected. the trump administration unveils plans to freeze obama era fuel efficiency rules. we will speak with the former epa administrator gina mccarthy on the spirit we have u.s. markets closing in two hours. let's get a check on where stocks are trading with abigail doolittle. given apple piercing through that market level, you have the tech stocks leading the way. abigail: that's right. we were looking at designs -- declines. to scarlet point on technology, take a look at the tech heavy nasdaq. up more than one -- than 1%. about threedays in weeks. -- three days and about three weeks. that has everything to do with apple being higher for a second day in a row. the best day since 2015. the $1 trillion m

new york, 4:30 p.m. in london. this is bloombergwork designed to save you money. whether you use your phone to get fit. to find meaningful, thoughtful, slightly-weird gifts. or just to know which way you're facing right now. however you use it, your wireless bill is about to cost a whole lot less. ask how you get xfinity mobile included with your xfinity internet. so you just pay for data -- by the gig or unlimited. saving you hundreds of dollars a year. plus, get $300 back when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. >> another day, another record. s&p and nasdaq fit at record highs. dollar find its footing. fed as vicehe chair. the yield curve continues to flatten. to ecb, please, sir, by more -- buy more. welcome. was not on television, i would do the english accent, but i don't know if you are ready. there are 3.5 people trading. things, stocks at 52-week highs. maybe there are some cracks in the weakness. david: it is on a tear. alix: we are losing a little.

bloomberg markets. we begin with breaking news. to people familiar with the matter tesla will seek a wide investor pool for its plan to take the carmaker private. tesla is set to avoid concentrating ownership of the stock, to hold early discussions with banks about the plan. these deliberations are set to be at the early stage. no decisions have been made. and we reached out a representative for tesla did not immediately respond to a request for comment. tesla shares taking a leg lower, erasing gains, now unchanged. dipping into the red. joining us now on the phone is gene munster, of loup ventures. taylor and i were looking through this story. one line stuck out at us. elon musk would prefer to amass investors who have been contribute part of the funds, the guys he wants to avoid large stakeholders in the company. tesla wants to avoid concentrating ownership of the stock. as we were saying, this does not sound like funding secured, the way elon musk indicated in his .weet earlier this week is that a problem for him, does that chan

during a wide ranging interview with bloomberg news he calls the mueller probe illegal and in front of a raucous crowd in indiana, he took another dig with this warning for the justice department. >> what's happening is a disgrace. and at some point -- i want to stay out but if it doesn't straighten out properly i'll get involved and i'll get in there if i have to. >> boris sanchez t s at the white house with more on the president's latest attacks. boris? >> good morning. president trump voicing his on going frustration not only with the department of justice but which w the russia investigation which is calling illegal. president trump citing great scholars who told him the russia investigation should never have been started. further, he believes the department is of justice isn't doing enough to go after his political opponents like hillary clinton and those in the department of justice which he believes have been plotting against him like peter strzok, bruce ohr and others. despite years of attacks on jeff sessions, president trump told bloomberg news session's jobs would be safe un

mike doherty is the beauty white house editor for bloomberg news overseeing coverage of the trump administration. he was the white house correspondent for the chicago tribune and bloomberg throughout the obama administration after covering the obama presidential campaign. throughout his career he has covered foreign hotspots including on the ground coverage of the iraqi war in haiti and got his start in alabama where one of his first assignments was riding a garbage truck, he is best known in alabama for that. leslie jean thornton studied the professional journalism, distribution of news where they interpreted and shared that news. and offers suggestions of violence toward them. some of her other research investigated how being called enemies of the american people has impacted journalists who were new to the fuel. he worked at newspapers in new york, connecticut and virginia and earned her doctorate at unc chapel hill, is currently at arizona state and was head of the online news division from 2012-2014. we will begin with alan and work our way across and move forward from there. newspaper cove

live from new york, this is bloomberg. ♪ >> it is 2:00 p.m. in new york, 11:00 a.m. , and 70 5 p.m. in london. scarlet: i'm scarlet fu. >> i'm taylor riggs. welcome to "bloomberg markets." scarlet: we are live in new york. here are the top stories we are covering on the bloomberg and from around the world. the s&p 500 loses a rare female leader, indra nooyi steps down at pepsico, handing the reins to its top lieutenant. pressure point, the president turns up the heat on iran as sanctions snap back into place, a prelude to oil curves. and happy in the hamptons, a glimpse into the life of gary cohn investing in writing and golfing. u.s. markets closing in two hours and let's get a check on where things are trading. summer has finally begun. abigail: it does feel like traders are playing golf today. small moves for the major averages, but gains. earlier, we had small losses. not a lot of conviction. last week, the fed up week in a row for the s&p 500 and the dow, the first time we have seen it this year. a bullish tone, but speaking of the sweeping markets, let's hop int

[laughter] --josh would bloomberg news with bloomberg news.hat the message to u.s. congress is now whether canada believes president trump would have the authority to proceed with the bilateral deal or if you would need canada to proceed. >> when it comes to the u.s. legislative process, that is a question for the americans in our american counterparts to answer into. that's the message and a question for the americans, and that is their issue. gordon. 19 and the chapter another are the two main sticking points, are there any other sticking points or things you can tell us about? >> as i said to the hardy reporters who are camped outside ustr earlier this week, ambassador lighthizer and i agreed that given the absolute intensity of negotiations now, we would be negotiating in public. i will not talk about specific issues. president trump has said today was a deadline for the net the negotiations -- for the nafta negotiations. are there any deadlines to make sure there is a nafta deal? >> for canada? the focus is on getting a good deal. once we

luke from bloomberg news, coming to us from boston, kathleen, director of diversified fixed income. we will get to a broad in a moment. i want to focus on turkey. and how they have handled the situation. -- especially way over the last 24 hours, what can they do now? to regain credibility. >> they are really running out of options. they don't have credibility. looking at currencies, you can see there is a lot of fear and uncertainty. it is also an important country in terms of geography, relationships, and trade. for europe in particular. at some point, a solution must be found. >> looking at the situation right now, is the management a crisis for the crisis at the moment? fragile to begin with. because of the large current account deficits. since the election, since the change in the federal bank, you have the lack of credibility of compounding it. they don't have a lot of good options. they can raise industry very steeply. they can tighten physical -- fiscal policy. none of those are palatable. to the administration. >> they are not asking for help. the united states is equivalent

new dollar strength. the bloomberg dollar index does not show that.ll show that through the show today. it looks like cold. the flight 20. -- it looks like gold. the flight to zurich. francine: i am going to look at repercussions and contagions. turkish lira, you talked about it. i am looking at yen. there is a pretty mild risk off move. something you cannot forget. this is my favorite story, the european banks. this is what is most exposed. this is a local turkish bank. italy's unicredit owns about 41% of the turkish bank. has exposure,so but they are less dependent. tom: why is deutsche bank not on that list? why are they removed? francine: they just don't have exposure at the moment. the bond exposure, i don't know who holds that. i don't know if it is asset managers. it is something we are trying to figure out. that will have an impact on the figures going forward. tom: it is a movable story to say the least. we can show vera later. -- lira later. backis euro sisi going eight years. no doubt about that. this is a recent rollover. tot gives you a f