bob dudley took over in the wake of this spill in 2010.able to spend more time running operations and less dealing with the consequences of the disaster. he will have his work cut out. the company sold about a third of its assets. production has been slumping. market caps have been falling. certainly, he will have his work cut out. francine: thank you. coming up, we talk more about greece and what it means for the bond markets. ♪ ♪ francine: welcome back to the pulse. i am francine lacqua. manus: here are the top line desktop headlines on bloomberg. the biggest three-week decline since 1992. the index sank 5.57% today extending its drop from the june 7 peak. more than $8 trillion has been wiped off the market the recent swings have prompted the investigation into possible market manipulation. the regulator has promised strict punishment for anyone deemed to be at fault. francine: aetna has agreed to buy humana, the second-largest provider of medicare insurance, for $37 billion. that -- the deal values humana at $232 a share. the five bigge

bob dudley said: the agreement is still subject to final approval by a federal judge. the settlement was hailed by a number of public officials, but several environmental groups called the final agreement disappointing. joining us is a key figure who was involved in hammering out the deal. u.s. representative garret graves served as louisiana's lead trustee representing the state in the b.p. oil spill negotiations from 2010-2014. he's served as an adviser since. he is a republican and joins us from baton rouge. conditioningman congressman gaves, welcome. is this a fair settlement? >> it is. judy, i think it's very important. you can't just look at this in a vacuum. you have to look at the other options available to settle. this we've been sitting here for five years with one of the biggest environmental crises in our nation's history and we haven't had any type of settlement or financial settlement for the gulf of mexico. so you accept this deal or get stuck in a judicial process where we could be talking about this for ten or 20 years. >> how was the number $18.7 bill

it is like what we saw bp and bob dudley do.el for anglo-american is a larger return on investments. assets that don't give us that return, we will get rid of. even if we are doing that in the falling market will not get the same prices as five years ago or 10 years ago. but these share prices are down at a 13 year low. while we might get a pop in the share price, they are so far away from where they want to be. so i think that the real takeaway for me was the ruthlessness of the ceo's dedication to cutting costs. 6000 jobs. these are managerial jobs. this is a company with about 140,000 employees. they will cut their workforce down by 100000 and 6000 are manager types. as they sell some of the assets those go with the assets. but if you are not taking something out of the ground and if you cannot prove that you are adding value, you are gone. caroline: watch the share prices keenly on the open. you have to stay tuned because we will be speaking to the anglo-american chief executive at 8:15 u.k. time you do not want to miss that

ceo bob dudley said company positioning itself for a period of weaker prices. company reported second quarter replacement cost loss of $6.3 billion. that's a measure that takes into account changes in the price of oil as mentioned earlier this morning. dupont reports across the tape in the last hour earnings of $1.18 a share. that matched wall street expectations but the revenue fell short of estimates. we talked about what nelson pelts thinks about all of that. >> the company cuts its forecast for the year. >> so this is going to be -- i think you could start hearing the drum beat all over again. >> from merck and pfizer they're both higher and i think you have to say that it's trading on what they were able to manage on earnings per share on the bottom line and maybe we get to the point where -- because we've been talking about how revenue is not going to be up to par because of the strong dollar. maybe sooner or later the street starts putting less emphasis on revenue because it's going to be affected by the strong dollar. they're both up. >> what struck me