brickland dwyer with bnp paribas. and stale head, the stocks that our market monitor says are cheap and belong in your portfolio for the long haul. he'll name some names for us coming up next. >>> cbs health is being accused of overcharging pharmacy customers. according to a complaint filed in san francisco cvs intentionally overcharged for generic prescription drugs by submitting claims at inflated prices. the plaintiffs are seeking class action status but a similar fed control complaint was dismissed in massachusetts. >>> general electric is echoing the recent comments from boeing. ge reportedly says it may spend $10 billion worth of work overseas. now that the export/import bank will be shuttered until at least september. according to reuters, the company is working with export credit agencies in other countries to help finance some deals. the countries that could get that manufacturing work from ge include canada, the uk, france, germany, china, and hungary. >>> a new chapter for j.c. penny. the department store w

as manus cranny said earlier, bnp paribas was the target of 6750.hey are looking for a hawkish surprise. they are the markets right now. ♪ jonathan: good morning and welcome back to bloomberg tv. we have 30 minutes into your trading day. here's a picture of the markets this morning. the ftse 100 down. by dax also in the red, down 60 points. the shanghai composite closing low were also, down by 1.1%. the private gauge of manufacturing not pretty, in contraction for a fifth straight month. talking about ugly things, the athens stock exchange due to open any moment now. we will bring you the price as it comes through. hans nichols is standing by at the exchange with a guest. over to you. hans: jonathan, thank you for having me and i think our guest for joining us. he is the vice president of the association of members of the athens stock exchange. you had a quiet five weeks. now things are going to start again. what do you expect? >> the market was closed for a month, so any open would have been difficult. there's going to be volatility. with the creat

air bnp is at the center of what may become a huge liability case.erican customer said he was held hostage, sexually assaulted, contacted his mother who got no help on air bnp. the judge on that next your extraordinary video of a garbage truck slamming into a highway sign. down it goes. ouch. it's more than the cloud. it's security - and flexibility. it's where great ideas and vital data are stored. with centurylink you get advanced technology solutions from a trusted it partner. including cloud and hosting services - all backed by an industry leading broadband network and people committed to helping you grow your business. you get a company that's more than just the sum of it's parts. centurylink. your link to what's next. stuart: >> really fun to watch. stuart: that is 10 tivo. he scored a touchdown on his return to the nfl. now at quarterback for the eagles. that's my coverage of the ball. to the big board please. the dow industrials down 126. new york area manufacturing showed its worst read since the recession. that is bad for the overall econom

citi, restructuring and bnp in europe. liz: put up his picks here. citi,bnp, credit suisse. bank. >> we like the small banks in the u.s. because loan growth in signature and valley bank is off the charts. they look expensive on today's earnings. tomorrow's earnings will be higher. liz: james, is there an area you would tell people to avoid? >> oh, yeah. i would think you want to avoid anything economically sensitive. you want to avoid the commodity sector, industrial sector. cyclical sector. economy is really not any better than it has been over last three years. we have the same economic numbers we had three years ago when the fed was giving us quantitative easing. now same data is giving us tightening. now that we have plunging commodity prices led by oil, world economy will stay slow and hurt the sectors. liz: folks, oil at six 1/2-year low, below $44 a barrel. great to see you both. fred cannon, james bianco, sort of the boys of september. thank you very much. that will do it for "countdown to the closing bell." a lot of red on the screen here, david and melissa. hand it

you and i cannot invest in the uber or air bnp. i don't like that.ase my future investments on a growth industry. i want him but i can't get in. i'm not happy. >> you have a right not to be happy. stuart: i have the right to life, liberty and pursuit of happiness. >> this is silicon valley. over the last two years silicon valley maxing out the ultimate. >> insiders keep the money. outsiders like you and i can't get added until the money has been made. charles: they take it a step further in abuse the people that use their product because self.but the stock when they can. let's say they go public at 60 billion. the first-rate they'll be at $90 billion company and you and i can buy it. all of the small investors who don't have a shot. we understand how the system works. right now uber has 10 rounds of funding from the airbnb has 15 rounds of funding. i told people to buy. they only have three rounds of funding debris $66 million. they gave users the chance to make money. the other guys the public love a tough time making money. stuart: uber and airbnb

bnp paribas by 21%.eing them increase , and also fees and commissions from investment banking and brokerage is at a four-year high. angie: shery ahn, thanks for that. it is a new day and a new trading week underway in the asian pacific. let's see how markets in tokyo are digesting the data from japan. zeb eckert is here with the early market cues and clues. zeb: let's take a look at what is happening with the japanese currency in reaction to those latest numbers. an early snapshot on the yen trade today, trading at 124.23. muted reaction, just under 0.1% move here. if you want to compare to how we finished the day on friday, this is what we have. 124.22. not a huge move for the currency. watch it very closely given this latest number we have out of japan. as for the equity markets, we have japan, south korea, and australia starting this monday session. new zealand is posting a gain. pressure,nikkei under down about 0.5%. from china, numbers ongoing concerns about the economy weighing on its main trading

the lenders are hsbc, barclays, goldman sachs, bnp paribas, and rbs.brings the total fx rigging accord to $2 billion across nine greek mps have: backed a bailout deal. the government says it will call a confidence vote after august 20. that is the day of the ecb payment. manus: chinese yuan has halted a three-baseline after the central bank raised its reference right. the pboc also said it would intervene to prevent excess of swings in the currency. francine: let's check in on the markets. mark barton has the latest. we are getting portugal gdp expanding 1.5%. : we've got the eurozone gdp in roughly 29 minutes. the forecast is for a gain of 0.4% because of the mrs. from three big economies. if we get a positive number, it is going to be the ninth consecutive orderly increase. we will bring it to you live here on bloomberg television. it is not just the eurozone today. i want to talk about the asian currencies. it is not going to be the dollar-yuan. what a week it has been for asian currencies. we've had the yuan devaluation, we've had vietnam widen its

the head ofin global fx strategy at bnp paribas. >> said watching is hard enough. if those going to make it easier i would say watch janet yellen, stan and -- stanley fischer and william dudley. did william close the door on september? >> i think that seems to be the case. the greek crisis is the catalyst so from our perspective we think that even before the malaysian equity market was off the table we think the fed is data watching. unemployment is doing exactly what they wanted to do with falling and looking positive but what they need is more confidence on growth so from that perspective they are data watching like you and i. >> traditionally the fed places less emphasis on markets than we would. having said that, there is no way they're going to start lift off. legend giantfund making some weight talking about qe4 the last couple of days. >> ido you think about it? think it is highly unlikely with the on a planet rate already through the roof. it is really not on the cards. think a more likely course would be to delay the liftoff. with unemployment where we are

hsbc, barclays, bnp paribas, and rbs.he settlement brings the total accord to more than $2 billion across nine firms. yuan's three-day slide came to a halt today as the people's bank of china raised its reference rate. it has been a controversial issue. here's what our guests have been saying. >> these crises are coming one right after the other. they are too close for beijing to control. >> china says, we are going to weaken the currency of it. going forward, the markets have a bigger swing. this week was a step closer to being accepted by the imf. perhaps what we should expect on a going forward basis in terms of growth may not be as optimistic as some people thought. admitting theyy have a growth problem. that may be a band-aid getting ripped off a little bit, but in reality, this is just acknowledge in what we've already known. jonathan: the pboc has pledged to curb volatility after those swings. while some markets have calmed, others are still suffering the consequences. enda curran joins us from hong kong. elliott k

they have a lap called 126. 26 bnp. lauren: they also have the ipo, a popular product from amazon.s to this echo for amazon. now you have and for facebook. that is the virtual assistant. the tech giant has begun testing and is basically this theory, cortana and the like tossing it on facebook messenger users today. it is free. it combines artificial intelligence. serverless customer agents help you do everything from book agents on hold for you with your cable company. user sends a note via the messaging map of the virtual system asks questions and sends up dates as the task being performed is completed. facebook says they aim for it to become the first stop for anyone looking to do or buy anything and facebook looks to eventually make money off the service by charging businesses to link with them to help customers. either a man or a woman. nicole: i like that. the ride was seen in the stock market leaving investors frustrated, maybe a little tired. waiting to see what happens next. are the robots in charge? we want to know that. >> to make, the little guy absolutely got crushed an

as i told bnp outside the bunker door -- and it certainly was. it, there's noof doubt. there are any number of people walking around today who would not be walking around simply because their fathers and their grandfathers would have been killed. i am convinced of that. had -- in my own mind, just shutting down that war was worth it. but that is not to say that we should not do everything we can to put that genie back in the bottle and keep it there. certainly my sentiments have been along those lines ever since. to have the military-industrial complex that dictates the speed at which we are ourselves is totally wrong. somehow we have to learn to turn off the influence of the hawks thathe super hawks -- turns out to be awfully hard. toply because they know how spend the money to get the largest political support. even things like the b-2 bomber, which, you know, we have 22 or 23 of them. i noticed one of them have crashed off of guam yesterday. of course they only cost a couple of billion dollars apiece. but it is a nonsense weapon. it has no utility whatsoever. in a se

barclay's bank of america, bnp paribas, citigroup, goldman sachs, hsbc, royal bank of scotland and ubsbillion dollars because they were rigging the currency market. we're complaining about china and our own money center banks and large commercial banks, many of those, are having to pay fines. and by the way, this is round three or four on currency and manipulation. this is appalling and no one is talking about it! not in the business media, not in national, in the campaign, this is outrageous! >> well, you know, when you look at what china did, 24 hours after it announced terrible july exports it devalued currency on tuesday. that's a direct evidence they are doing this -- lou: that's a settled issue. >> we're talking a lack of leadership, not only in government but business in the private sector as well. and what happened here is absolutely inexcusable, especially after what we've been through since the financial crisis. lou: i wonder why the outsiders are anti-establishment are doing so well in the republican primary campaigns. john lonski, always good to see you, gordon chang, alway

bnp paribas, darren wolvesburg and david tavella to bring in the energy this morning.nting to lower open for u.s. stocks. dow futures pricing in a triple digit loss early this morning. dow futures off 117. s&p futures off about 15. we're watching oil price this is morning. what a day it was for crude oil yesterday. prices soaring 10% in yesterday's session. right now oil falling off just a bit. off a third of a percent. we'll look at that firmly above $40 a barrel. european markets opens a short time ago. cac and dax are currently trending lower. dax in germany leading to the downside off one half of 1%. it is still early action showing. >> i don't wear a toupee. it is my hair. i swear. come here. come here. come here. come here. i'm going, we'll settle this. is it mine? look. >> it is. >> it is. say it, please. >> yes, i believe it is. >> thank you. sandra: what is morning without a little donald trump in south carolina thursday where he decided to tackle a major campaign issue, his hair of course. trump went on to bash republican rivals including jeb bush who he cont

. >> richard iley chief economist for bnp paribas. >>> according to a senior aviation soushl aviation it will purchase the planes, iran intends to fund the purchasing through leasing, loans and state funds. >>> asia's largest commodity trade noble group as denied to fund a bond this week. noble group saw its shares sink. insists it can fund the $735 million payment due this week. noble has brought forward its future results to next week to coincide with a report on practices. as you can see up to date 4%. >>> ratings agency standard and poor's predicts that corporate spending will decline more than 10% due to the fall in commodity prices. explained earlier on cnbc why the rout was having such a pronounced effect. >> as high as 45%, 56%, back from 39%. down a third in the quarter with spending so while they're falling, you know global capex struggling to grow. >> joining us from barclays oil prices have taken another sharp decline over the last three or four weeks. what's the reason for that? >> a number of reasons we've seen the crude stocks and the commodity stocks that's sk affectin

while citigroup and bnp paribas reduce the headcount in japan, goldman sachs increase their staff by done 12 transactions including a $5 billion acquisition. those transaction fees helping fees,n sachs boosts commissions, especially from its investment banking and brokerage businesses which include merger advisory. i jumped to a four-year high. profit also from fixed income rising 10%. rishaad: let's have a look at some other stories we are watching today. david: japan released its latest current-account eta of june -- current-account data of june. about $2 billion short of estimates and less than one third the surplus of back in may. this is the broadest measure of trade. in a tenure look, japan's current-account -- japan typically runs a trade deficit overall. if you go back all the way to 2011. this figure also includes income from abroad. that has really been what is keeping current-account a float. isuick check, how this affecting markets there. that is the current account surplus over 10 years. pulling back from an eight year high. let's switch things around and take a look at

rivals such as bnp are doing the same. they have to adapt.s model, whether this plan of 850 million euros of cost savings will involve -- and whether it will only focus on the investment bank. >> the cost saving plans can mean people have to change jobs. jobs are changing. it would be foolish to think with the new technology, we would do the business the same way. caroline: the ceo saying it is unnatural to say these will involve job cuts. some people will have to cut jobs. in terms of litigation, and the investigation going on with the u.s. authorities regarding business done with the sanction countries, he told me the investigation still going on until the end of the year. anna: thank you very much. joining us from paris. coming up on "countdown," the first super sale day at the bank of england. we are back after a short break. ♪ anna: here are the stories you need to know. france's bank reported there earnings. socgen says they will cut costs by 850 million euros. investment in digital technologies. shire made a $30 billion -- they have re

manus: i was reading a bnp paribas note and they were saying they are going 6-3.y actually see that the sterling market has underpriced the level of dissent that there might be. where do you stand on this dissent? we just had services numbers. they missed a little bit. sometimes it is noise, isn't it? >> yes. up until today, i thought the cumulative impact of the economic news we've had out of the u.k., abstracting from the high-frequency, the cumulative impact of that news actually was tipping the scales a little bit. it is quite possible that 8-1 will be correct. i do think there is a sort of -- something is afoot there, which i think is going to change probably within the next two or three months. my hunch is that that vote is going to shift towards a rate hike maybe by november. francine: november, and jamie, your call? >> we've got february sort of penciled in. we think the wage data will be a bit stronger. manus: gentlemen, thank you very much. jamie merry and george magnus. thank you very much. francine: up next, as greek bank stocks take a battering, we sp

we have announcements that bnp shutting down hedge funds and different things and that was maybe 2007. so 2008, same phenomenon. people are coming back from vacations, all hands on deck trying to follow the story. this has a little bit of that feel of august desperation to it. how does that set us up for the fall potentially? >> yeah, it's a little scary. if you see a continued decline in the yuan, that raises questions, currency war, does it hurt u.s./china relations? it spins out -- what's interesting is this is really reverberated around the globe. the chinese economy is pretty closed. and it's the second biggest in the world. and when the stock market tanked, you know, it was dramatic but didn't affect the rest of the world. that's something to think about. >> there was -- a speculation that maybe they were doing this out of the chinese president's visit to the united states to try to placate our demands that they do something about letting their currency flow to the markets here. they would also like to become an elite reserve currency in the world. is this backfiring on them? or