how many more boxes will bob dudley tick? bob: we are getting back to the way we should be at the company. we say the company is firing on all cylinders, all those things are operating at levels that they should be. we turned around and retooled the company over seven years so it would be good to get back to being efficient. mountain to climb at the beginning, you are at the peak now. i assume this may be not the peak but close. things are as you say back on an even keel. it has been a tough mountain to climb. do you stick around and enjoy take theor do you cable car down? bob: i love what i do, i survey the pleasure of the board and we have a fantastic team, a real team of people. every once in a while you work with a high performing and this has been high-performing for years now, it is a joy to work with them. javier: you continue traveling and you are talking to peers. how do you see the global economy doing especially with trade wars, we have real trade wars question mark -- wars? we -- our projections, 3.1 this year, 2.9

vonnie: that was the bp ceo bob dudley. will, sounding very confident, bp.s for many that the numbers, the profit going up four fold justifies the cash they are splashing on their latest acquisition. >> there was nervousness about attempting such a big deal, the biggest they have done since 1999. that with debt near 30%. but these results will give investors some confidence that they can manage to get it all done. it was clear from the numbers that the money that is splashing out, or paying, is probably the tail off, and that is falling a little bit, so investors will come away today feeling that maybe they can do the deal and is stick to their financial framework. vonnie: the trading business, does that give pause for thought or is that a one-off? will: traditionally, it is a good earner for bp. this is the third time in 15 quarters that the trading business has lost money and there has been times where it has made really outside profits. it can be volatile. but it seems, according to bob dudley, that they got caught up in some severe allocations, likely ha

they will be speaking shortly with bob dudley after the energy giant beat second-quarter estimates.mberg. ♪ guy: good morning, welcome to bloomberg markets. this is the european open. we are live in london. i am guy johnson alongside matt miller in berlin. but: asian stocks are mixed more to the downside, the yen unchanged as treasuries gained, jgbthe real move comes in 's. the cash trade is less than 30 minutes away. guy:

caroline: that was bob dudley, who also said that the robust amid for oil gave him the confidence tose dividends for the first time in 15 quarters. vonnie: time now for our latest bloomberg business flash, a look at some of the biggest stories right now. and in the transaction in the real estate business, brookfield asset management has agreed to , achase forest realty trust deal valued at $11.4 billion, including debt, representing a 10% premium over for us to city's market -- forced to city's market close price yesterday. chipotle mexican grill, the chain's shares fell yesterday after reports of illnesses from a restaurant in ohio. stability is working with health officials. the coveted was battered by multiple outbreaks of a foodborne illnesses that began in 2005. and that is your latest bloomberg business flash. caroline: let's take a look at where european markets are trading as we head toward the close. less than four minutes to go. we have had a bounce from the news coming from bloomberg that the u.s. and china will once again potentially negotiate behind the scenes the dow ba

shell asses ceo bob dudley said the acquisition should deliver for years to come. >> it is transformationalthe company. it works on multiple levels. it works because it transforms the lower 48 businesses, onshore, a great team, but not the right assets for them to work on. they're doing great. it's good for bp as a group in the upstream it allows us to high grade our portfolio we'll be selling other things around the company to pay for some of this transaction for bp overall, it's growth going out for many, many years >> the company also saw net debt fallbelow the $40 billion mark but dudley told "squawk box" he's staying focused on capital disciplin discipline >> it's a nervous market, you have uncertainties in what happens with the iranian sanctions, sale of iranian crude. tensions in the middle east. venezuela seems to be a humanitarian tragedy, but also could have big impacts on the oil markets. you have oil bottled up in the permian basin now in the u.s that will take about 18 months the u.s. production increases that people expected will probably be slower from the u.s., but they're c

we talked to the bp chief executive bob dudley. >> we delivered results or exceeded. the first time in 15 quarters, so we've got momentum and people are pleased. reporter: what are you hearing from investors about the deal? >> people were concerned we were off to the races and we were going to break our financial framework. there going to stay within $15 billion to $70 billion capital framework. we are -- to 17 billion capital framework. we are going to continue to increase dividends for shareholders. we are still planning in a $50 to $60 price range. you are also guiding investors to expect spending to be at the bottom of the range. it seems you are setting the for consideration. >> it depends on the oil price. it feels firmer rather than softer. this deal will be effective as of the first of july. when it closes in october, we will have the economic benefit of that. the first part of this deal is likely to be higher prices. the company is operationally working well. we have three more projects before the end of the year. i think things are on track. tom: bob dudley

the ceo bob dudley says it's a transformational acquisition. he's probably not wrong.t acquisition since 1999. the key thing is that it gives them anchorage in the permian basin. that's the hot property for u.s. oil and gas, shall production, one of the most productive centers for oil and gas production in the u.s. this marks bps first entry into the region. it also gets across louisiana and texas. could skew bpsy portfolio toward oil production. guess has been the more dominant source of energy for bp in the last year or two. potentially an important deal for bp, also a good deal for bhp. they're trying to offload the shell unit. with these two deals, they exit from that sector. ramy: what does it mean for bhp and its battle for --? after all this, what are they going to do with the money? atid: they pushed bp to look underperforming assets that was a spinoff of oil and gas, but came around to selling shell was a good idea. they will be happy to see this deal done. plenty of other investors. bhp donated $20 billion and shell assets. it has never really panned out. it

we spoke to ceo bob dudley. >> i think it speaks to more confidence than we had in a long time.e had the confidence to raise the dividend for the first time in 15 quarters. we have momentum, and people are pleased. reporter: that was your bloomberg business flash. allowedhe bank of japan for more range of trading around its target, as explained by governor hirota. >> the bank will continue with the purchase program, but with more flexibility in terms of the amounts. while doing so, yields may move upward and downward to some extent due to the economic activity and price movements. we see the range of 10 year yields double from the current 0.1%. teneo tobias harris is intelligence's vice president for japan. welcome. did market three acts this decision or relative non-decision by the bank of japan? >> markets reacted in the sense rally and yen selloff moderately. they pulled this right out of the ecb's playbook. there's been a lot of discussion about the yield curve, whether banks are suffering from a flat yield curve, whether they need to introduce more flexibility. they did tha

. >> that was the bp chief executive bob dudley speaking on bloomberg.of the biggest news stories of the day. quarter profits posted that were better than expected. one of the world's's agricultural trading companies capitalized from south america which led to strong global for u.s. commodities. modestly increased its profit forecast for the year. the french pharmaceutical maker is a return to growth. helping to offset declines for its biggest medicine, diabetes, -- never underestimate the ability of a supermodel to tell a product -- -- the shares soared today after it announced a deal to sell the intimates line in over 4000 cvs stores. the line features wardrobe and -- torpet products from back sticks on bras. and that is your business flash update. scarlet: let's turn to michael who thinks he knows what his namesake company is worth. he is not budging. big names like carl icahn and paul singer standing potentially in the wavelet the company's plan for public markets. for more, alix in san francisco. it feels like this is a repeat of a story we have hea