despite the political crisis engulfing brazil, they know that sooner or engulfing brazil, they know thatkely to vote on the reports, some say thatis to vote on the reports, some say that is crucial for the brazilian economy. the brazilian population is ageing. it presents a serious challenge, the cost of caring for the elderly is rising sharply in the government does not have the money to pay for it. the country spends around 11% of its gdp on pensions, thatis around 11% of its gdp on pensions, that is twice as high as in more developed economies and it is set to double in the next a0 years. brazil's debt is also growing, doubling in the past three years. without reforms, the imf says that debt could balloon to 90% in five yea rs. debt could balloon to 90% in five years. president michel temer has been pushing reforms to get the economy back on track, but he is now embroiled in a corruption scandal which could see him forced out of office. the question is, if he goes, will his reforms survive? is -- if the current president has to step down, iam the current president has to step down, i

laws in brazil.ing the work, the dirty work in brazil but now they're facing -- he's not oing to be able, because the politicians are changing. and the old parties are getting together in brazil, the party former a, the president, and they don't want temer to go out now. they want temer to stay into the next year for the election. so they probably will wrap it up everything they can to keep themmer in that. we're facing the public wants him as out but the old parties don't want him out. amy: i want to ask you, david, about what happened earlier this year in a protest in rio de janeiro where you are now when you were hit by a car yourself after setting up traffic cones to block vehicles. can you tell us what happened? david: i got up at 2:00 in the morning to do a strike with everybody else in the city with the youth. so we are blocking the streets so people don't get into their work and downtown, so i was blocking the street with cones and this car came and he didn't stop, he just run over me and i j

could brazil get a third president in a year? amid claims of corruption, bribery and illegal funding we'll look at what next for the ailing economy. live from london, that's our top story on tuesday the 6th ofjune with ongoing protests, the stakes are huge for latin america's biggest economy — which is just recovering from two painful years of recession. we will talk you through what is at sta ke. also in the programme, one of the world's biggest coal mines gets the go ahead in australia. india's adani group says protests won't stop the $12 billion project. and markets are in wait and see mode, with the uk election looming large and central bankers getting ready for key meetings. we'll tell you all you need to know. and forget wi—fi, forget bluetooth — how about sending data with sound? we'll get the inside track on how the technology could revolutionise the way we share information. we'll speak to the man behind it. and staying with tech, apple has launched its new smart speaker, it's called the homepod but it's more expensive t

you are just back from brazil.michel temer sits in this corruption allegation story. if we take this back to 2014 wenbo corruption case, —— when it is the first case came about. when dilma rousseff and michel temer used corruption money to finance their corruption campaign. it began right after the election in 2014 that it is only just now that the court will set to try those allegations. and what's going to happen? chanters are, everybody is expecting the court to make a radical move —— chances are. it could be that the government and mayor is accused of corruption in low earth jurisdictions. there mayor is accused of corruption in low earthjurisdictions. there is mayor is accused of corruption in low earth jurisdictions. there is an high probability that the court could scrap this. he is also facing other court cases and he is also facing 14 impeachment requests in congress. and this is seemingly endemic. it is dilma rousseff, it is michel temer, it is the former president and other politicians and leaders. it wo

his president -- brazil's president. market seems unmoved. the republican health bill. three gop senators say they will block the version. you are watching "bloomberg ."rkets: european open i am guy johnson and we are in london. matt miller off for a few days in the u.s., speaking to bmw. we are into the trading day. let us take a look at where the markets right now are. the fact that the market is going to be down by .2%, we have been softer than not. that is exactly where we are right now. of gestureet kind thing sideways. no real sense of momentum taking us in any real direction. bid.s are we have seen iron ore strongly bit overnight. a slightly more positive economic story. it is in the mining sector clearly. higher iron ore prices overnight as well. the inflation story is interesting to what we are about to talk about. growth for the ecb to begin unwinding its qe program. mario draghi has defended the impact of the stimulus measures delivered the far. speaking to students ahead of the ecb's annual form, he argued young people will benefi

brazil draws closer to the 2018 elections.ernment is still dealing with the fallout from the petrobras scandal that exposed institutionalized corruption connecting brazil's largest companies with a political party. you can learn more on our quick takes on the bloomberg. nejra: we'll have more on the global market leader today. i'm speaking exclusively with the south african finance minister at 12:30 pm eastern, 5:30 p.m. london time. let's turn to china. in less than six hours we will learn if domestic shares will be included. china has been rejected three times. joining us is mike mckee, the bloomberg international correspondent. this is almost becoming an annual event. what is different this time? it appears they're leaning in the direction of including them. chinese shares are listed in their emerging market index if shore intraded on foreign denominated currencies or in hong kong or adr. they represent 28% of the index. there wouldn't be that many a shares included, but they would raise the waiting to 40 3%, having portfol

brazil is a perfect example.g high import tariffs in brazil and urged foxconn to make iphones there. foxconn built a factory, but very little changed. rather than doing lots of high-level manufacturing in brazil foxconn continued to do , most of the work in china, where the supply chain was nearby and parts could be preassembled. this meant most of the iphone was made in china and shipped to brazil for local workers to slop together, like legos. in the end the brazil project , failed on two levels. it hired a fraction of the workers the government expected and did not attract suppliers. if an iphone is to be made in the u.s., it is more likely to follow the brazil model, not that shenzhen model. the brazil model means far fewer jobs, and making an apple would be like picking apples. while the u.s. could when they boast an iphone assembled in america, the question is, does it really want to? don't be full by tim cook's reported 2016 pay, which ranked him in the bottom third of all ceos in the s&p 500. cook actuall

president temer is already deeply unpopular in brazil.y the president with the lowest popularity in at least two decades. there have been calls for his impeachment, for his resigning. the opposition parties have now been calling for is that the election. but so far, it doesn't seem like any of those things is likely to happen. the centre—right coalition, that governs brazil with president temer, believe that even if they manage, however, to avoid an impeachment process , however, to avoid an impeachment process, the political crisis will make it really hard to prove all of the reforms that this government wa nts to the reforms that this government wants to pass in congress. so it's a very, a difficult political situation for president michel temer. even if he avoids avoids improvement process. it's unrelenting. thank you for taking us through it. the latest difficulties with brazilian politics. before we wrap up, this tweet came in from elliott tucker, who is watching us. elliott, if i had $1 for every time i was asked this question i wou

in brazil, a prosecutor slams corruption charges on the president. he is described as arrogant and corrupt but despite the accusation, the president says he isn't going anywhere. also in the program, competition authorities in europe slept google with a record. the company respectfully disagrees. more details coming up in business with stephen carroll. the body of salvador dali is ordered to be exhumed. we will tell you why. live from paris. ♪ in franceentarians>> will be taking their seats in the national assembly for the first time. many among them are newcomers and women from the political movement of president emmanuel macron. they will be the dominant force in parliament as the theervative party will be only major opposition. the socialists have been pushed to the sidelines. emmanuel macron has promised a new anti-terror law as well as efforts to make hiring and firing easier. catherine be a reports. >> emmanuel macron is ready to get down to business, backed by a legislative majority. he claims to reform the labor market, clean up politics and

the brazil project failed on two levels.the workers the government expected and failed to attract apples hundreds of suppliers. the brazil model means far fewer jobs, and making an apple would be like picking apples. while one day there could be an iphone assembled in america, do they really wanted to be? emily: don't be failed by a 10 reportedtim cook's pay, putting016 them in the bottom third of ceos. only ceo of a publicly traded u.s. company to cross the $100 million threshold for take-home pay. reed hastings of netflix reached $106 million last year. coming up, we take a look at a group of activist hackers on the front in protecting elections from tampering. ♪ to putxavier neil wants paris on par with silicon valley for tech investing in innovation. the opera -- the entrepreneur opened station f. including facebook, microsoft, and venture capital have appeared at the campus to advise entrepreneurs. >> we have programs that are completely different. we have a thing where we are looking for young people outside , and have

a narrative about corruption in brazil.egan: two numbers put this scandal, this giant instruction company and the brazilian corruption scandal known as carwash. i will give you two numbers. $788 million in bribes, and three tied to construction projects because the company $3.3 billion in profit. this is a level of bribery and graft on an institutional level, how they covered -- carried this out over years. we stripped it all back and showed how it began and how it ended. we have more form -- from reporter mike smith. mike: it grew over the years on the back of paying bribes in order to get sweetheart deals on contracts. >> was it just part of doing business? it sounds like it with in the fabric of the company. what it -- when did he get to bribery being such a central part of the weighted business? mike: they basically described a history of at least 30 years, probably going back further. the company is almost 100 years old. his is basically the way business was done. to get contracts for government work in brazil, you hav

i want to quickly mention the dollar brazil, more woes in brazil thanks to this supreme court.ll be talking more about brazil and what the latest allegations mean. we see brazil weaker in mexico following suit. joe: on commodity front, oil catching another dead today come today, goldr wind gaining 0.2%. those are today's market minutes. scarlet: let's discuss a tech lead decline in stocks. we peering in market reagan. -- we bring in market reagan. it looks like we have the second coming of that. google mypointed out, so that google fund for the eu. it is going to be a rough day for tech. there is a lot more going on. to your point, john williams and stanley fischer of the fed came out today and make you wonder if the fed is getting concerned prices.set almost taking precedence over inflation at this point. bettingseem to be inflation will pick up, the fed especially seemed like they were coordinating a message to talk down the equity market, to tighten rates to prevent this bubble. joe: is the idea there isn't a fundamental change with this story? typically with a big shift som

oliver: let's talk about the cover story, corruption in brazil.egan: there are two numbers that put this corruption scandal involving this giant construction company and the giant construction company, and the long-running brazilian scandal. $788 million in bribes, and $3.2 billion tied to the construction company, this is a scandal, a level of bribery and graft, on an institutional level, about how they carry this off, years and decades, part and parcel of the company's success, and we went behind and stripped it all back, and showed you how it all began. carol: we have more from reporter mike smith. mike: this company is the biggest construction-engineering firm in latin america. it is one of the biggest in the world, bigger than bechtel. it grew over the years, basically on the back of paying bribes all over the americas, and even into africa, in order to get sweetheart deals on contracts. carol: was it just a part of doing business? how did it get to the point where bribery was such a part of doing business at this company? mike: in this case,

but of course i want place i had in brazil. but of course iwanta place i had in brazil.ting that in amongst all that singing as well. many thanks. for 350 years, newmarket has been the home of british flat racing. around 3,000 racehorses are trained there, and the industry provides 8,500 jobs, contributing £210 million pounds a year to the local economy. but now there's a major shortage of stable staff. around 7,500 work in racing stables across the country but hundreds more are needed. now a new scheme has been launched to tackle the short—fall. tom williams reports. mays says this is a dream job, working with racehorses in the yard and despite the early starts on the long days, it is a labour of love. and despite the early starts on the long days, it is a labour of lovelj have been riding since i was five yea rs have been riding since i was five years old. i have always loved animals and! years old. i have always loved animals and i loved watching racing. working here has helped, riding out every day is great and especially when it is funny. after appearing on work exp

followed spread far beyond brazil voters. our emerging markets editor joins us.iety in emerging markets goes hand-in-hand, but this is a level once again in brazil. there are accusations that are coming out almost on a weekly brace -- basis and the president is having to defend himself in the most extraordinary way. what is encouraging investors is the fact that he is ill going ahead with these economic reforms that they love so much. everyone is watching the developments closely. we are looking to see what is going to happen next. yousef: in terms of how emerging-market currency perform coming -- perform, this is i-5 day basis. you could see the mexican base -- mexican peso has outperformed by .1%. 1%.russian ruble down the story out of turkey and the central bank and the president, they all go hand-in-hand. investors so far like what they are seeing in turkey. they are telling us that they like it trades, even though there is some concern over interference. they are fine with that, for now. it seems like people cannot get enough of turkish assets. yousef: as we

on the ground a lot of things are looking quite well in brazil.ave to say they are riding out this bear market in commodities. francine: justin, thank you so much. still with us is brian coulton and mark gilbert. rbrian, what do you make of all this? again, this is a crisis that is steepening, but as justin laid it out, the economy is getting better. >> the economy has been through a massive adjustment. the source of the declines in brazil allowed the economy to come back a little sseff'st after rou impeachment, there was a surge in risk confidence. shaped any chance of a v recovery in brazil, which you might expect, i think this puts a damper on that. >> if you look at the mscis function on bloomberg, the brazilian currency was the second worst performing currency against the dollar this year. foreign investors just don't like the concert. tom: we will come back to brazil and talk about a terrific essay yesterday. francine has got it. coming up later, what a treat for us today. with all this discussion about price change and where the bond market

i think brazil emerges stronger. argentina has a different story.doesn't have these institutions. it's been through so many cycles and a fault,ress, so many dictatorships, that governments.at the country that needs to rebuild those institutions. it rightfully has a lower credit rating than brazil, and it will for a long time. that said, it's a new market with a clean slate, low debt levels. you are able to get generous deal that the mark -- moment. we expect them to be elevated at the moment. as far as we have macri, we feel confident. rishaad: thank you for coming. bryan carter from bnp paribas. china developing new permits and electric vehicles overseas. details on the way. ♪ rishaad: breaking news surrounding the league of noble group. shares have retreated to the low 30 singapore cents a share. this is the sixth time in seven days we have seen it happen. we have seen the share price in the lowest level since 2000. we have a tumble of 6.3%. let's put this into context. the share price exactly three years ago to the day was at its highest, trading

the german national team brazil come close and there was more world cups bring terms of consistency. in terms of bringing through younger players that then go on to be world superstars i watched the likes of mom well noir measure. toni kroos mario good get caps for the first time before the two thousand and ten world cup four years later they want to it will be exactly the same with the likes of team over in a two golds already but it's not why germany never won a confederate because they using this as a chance to blood play it is the main the most important producer and nice to win the biggest prize of them all and that's the one from a it's going to be a portugal and germany for north and it be very very tough to pick a winner because you've got a very youthful german soil against that man christiane i would although this is again how do you mean credible incredible thousand and sixteen just as those we've said before it is the top four rang to defeat the rankings they've made it this far so pay for it should be very close no guarantees and you know red card could turn it anything

brazil. saying, these are significant, significant changes in countries, and we don't have that right. seems to me we are using this power we have to listen in on everybody to promote the agenda we want. now, what is the agenda? we've never argued this with the public. we've never debated, what should the united states be doing? should we be goingaround the world policing it, demanding regime change when we don't like a leader? this has happened since 1940s it's been going on. we've had at least 100 changes of government that we've been involved in. is this the right role for the u.s.? if we're really out for the united states -- if we think about america first, to use trump's quote, which is important, i suppose, to say, look, let's think about america, what's good for our health, it's not changing regimes around the world because they're not going to attack us. we're pretty mighty as it is. let me finish my point, is that the idea is that if we're america first, let's concentrate on america

walking through an airport scanner or eating a handful of brazil nuts?on question. >> oh, really. i'll say brazil nuts. >> i'll say walking through a scanner. >> you and i think alike. >> you got it right. more radiation in brazil nuts than airport scanner. >> they'd rather clean it that way. >> the way they grow, they suck radiation out of the ground. the roots of the tree. >> different ways of getting to the same answer. >> what's riskier, being obese or living in the year 1910. one hundred years ago. >> i would say living 100 years ago. >> you're all correct. people lived 13 years less in 1910. an obese person five years less. >> they were a lot happier back then. >> they were drinking. >> no politically correctness. >> drinking and smoking. >> and eating a lot of brazil nuts. >> what's riskier being a man, b, watching two hours of tv every day? >> what? >> i'll say tv. >> being a man. >> i like being a man. >> correct answer a, being a man takes three and a half years off your life. watching tv, eight months off your life. >> i know. it's risky. >> y

. >> moving on, brazil's top electorate court. what was a very close political corruption case, which determined whether or not he is stripped of his office. this is the way claims of the in4 presidential election, which the vice president was one thanks to legal campaign money. from 2016 when she was impeached, and also forced to step down. it would be brazil's second leadership practice in more than a year. for more we can cross to anthony , a visiting researcher at the international relations institute of the university of -- .hank you for speaking to us which way do you think people are going to go? >> many observers have been watching the proceedings of the electoral court think that the debate about which evidence can be used might actually foreshadow the vote to acquit or condemn. andt of people are saying, of course this has to be approved in the actual voting, they thinka started, it can go for-three in favor of michelle tanner. they think the evidence of the executives and the marketing -- that thatn shouldn't be admitte

effectively that is the issue with brazil.ey are sluggish on reforms, really the only cuts to have to lean on his commodity prices. until we see that, i think dollar-real is going to be stuck about three. jonathan: you mentioned the underperformance of the real relative to other currencies here in the space. when you look at the bigger picture, it has been a big blanket bid with some very supportive conditions outside of the em space. treasuries in that weaker dollar story, etc. you see those conditions remaining? stephen: i think we will get a heck up later in the second half. china at the moment is not an issue because, in the run-up to the leadership election, they are keeping the currency exceptionally stable. if you look at the forward-looking indicators, some of the lagged impact of the tightening we saw a earlier this year, that will feed through in the second half. also, the broad trade of r&b is above now. the will feed through in second half. i think we can get a heck up in global risk assets, but don't think the sel

this kid trying to take a selfie at the top of pedro bonita peak in brazil thought he was going to get himself an amazing shot. and that he did. he found trees near the base of that mountain. it took four hours to find the guy because he was stuck in all those trees down below. thankfully his parachute was somewhat open and slowed his fall, but that still caused serious injuries. he's listed in critical condition. >> oh, man. >> wow. >> according to reports, leonardo did not use the launch ramps that are installed up there. and when you see hum start to run, the wind collapses and stalls before he even jumps. so his wing wasn't ever properly inflated. before he just committed and down he went. >> we all know a way. >> and these guys in norway have decided to go out kayaking. they found themselves a beautiful spot to do so. first guy to do so, adrian, tries to pick a good line. and -- that's an 80-foot drop. >> he's back up. >> yes. but he hit bottom. that's not good. thankfully adrian is okay. next up is perman. >> looking from that perspective, i really appreciate how far he fell. >>

breaking news out of brazil at the moment.e president has been charged with corruption according to a global report by the prosecutor general. report,after the police accusing temer of obstruction of justice. he has denied the accusations, but the charges need to be approved by two thirds of the lower house to proceed. we'll have much more, coming ahead. stay with us on daybreak asia. this is bloomberg. ♪ anchor: a quick check of the latest business flash headlines. the final announcement of the sale of toshiba's chip unit may be delayed. toshiba had hoped to finalize the deal by wednesday, but sources say the buyers are conducting due diligence and are in no hurry to close. the arrangement could yet change depending on western digital, which is contesting the sale. the rally enjoyed by this company is underlying the disconnect. shares jumped by a 10% daily limit at the close, bringing the rally to 26%. developers shares of have risen by 5% and are now at a tony yvonne: taking a live look out of victoria harbour this morning.

u.s.,rate in brazil, north america. we are exporting more from brazil.advantage to be north america, which is a growing market. -- are youstors looking at the possibility of plants and india and mexico? are there buyers interested? >> i would not comment on a specific country. we believe in diverse make. our ultimate goal is to stay in operations where we have a better profitability. that is where we are going. >> on the operations, are you seeing risks coming from that? >> know, we still -- no. we still uphold a position we did not do anything wrong. we did everything right. so we are waiting. >> a quick word, second half of 2017, what is your outlook? >> for north america, which by their. we are seeing good signs of consumption. in brazil, sideways. >> thanks so much. we will throw it back to you. mark: thanks a lot. great conversation. we are getting breaking news, friends has announced president trump has accepted -- rants hasn't -- france has announced president trump has accepted an invitation to visit in the bastille day parade. that gives the pre

because this baby's mother lives on an island archipelago in brazil. the only way to get to hospital was right here. they sent a chopper to get her to the hospital for the birth. but 15 minutes out from hospital, the mom 19-year-old had pretty extreme contractions. that's when baby just decided, it's time to show up. you can see in this next video the moment mom gets to meet baby. now this in itself is a pretty incredible moment right there. you can see mom's had the baby placed on her chest. that's already a complicated birth in the back of a helicopter. during the birth it was more dangerous because mom suffered a detached placenta which can be dangerous for mother and baby. even these conditions, the guys were able to get what needs to be done to get the baby out. >> that baby's a champ too. >> think of how many cool nicknames that kid could have. >> what's up, chopper? >> it's a girl but chopper would still work. cool god parents too. another video where the crew actually turned up to greet the little one once again. even got a present. look. >> sh

jonathan: long brazil or long south africa? >> long brazil. jonathan: returns before yellen is out?an: short or long-term duration? >> short. jonathan: chair yellen to hike three times next year, yes or no? >> i would say yes. that is the general direction. jonathan: rick rieder and the guys at black rock. this is "bloomberg reayield." ♪ ♪ emily: it has been nearly six years since tim cook to go over apple for steve jobs. he put off the largest acquisition in apple history. he is taken on issues like the environment and education. he maintains a dialogue with president trump despite their disagreement on climate change. now, as i've been sales plateau, questions remain -- i-phone sales fifo, questions remain. we sit down with tim cook and talk about apple's homepod, a direct challenge to amazon and

next from brazil, leonardo sacamoto. [ applause ] in recognition of his unwavering resolve to find and expose instances of forced labor, his commitment to raising awareness among vulnerable communities and within the private sector and his vital role in ensuring progress in government efforts to prevent human trafficking in brazil. [ applause ] and sister from cameroon. [ applause ] in recognition of her unrelenting efforts to combat modern slavery, her ground breaking work in identifying a key migration trend to prevent trafficking of cameroonians in the middle east and dedication to ensuring survivors have legal support and access to comprehensive re-integration assistance. [ applause ] and from hungary, victoria sebeje. in recognition of her ground breaking academic contributions to reveal the prevalence of child sex trafficking in hungary, her ability to bring together government and civil society organizations to improve victim identification and services and her dedication to increasing awareness and understanding of human trafficking. [ applause ] from morocco, judge ami amina e

brazil's president is facing a defining moment in his presidency as the country superior electoral or investigate irregularities in the 2014 presidential campaign. dilmalection was won by rousseff, who has since been impeached. her running mate could now suffer the consequences of those 2014 election results if they prove invalid. a political career hanging in balancece -- in the come under the spotlight of the electoral court to rule on whether the 2014 president campaign used illegal donations. so, the elections could be declared void and he would be removed from office. >> essentially they make the same plea, the suspension of the electoral ticket represented by president dilma rousseff and president temer and their ineligibility. dilma rousseff one the 2014 election but has since been impeach for illegally moving funds between government budgets. she is also on trial. temer was her running mate and took power in 2016. the hearing is set to take three days, with the ruling expected shortly after, even though lawyers of the president innocence.s >> is not possible for him to pay the

brazil would be the extreme example. dollar bonds in brazil around 2% of gdp. even if things get bad in brazil, what on earth is the point of defaulting on that tiny share of gdp? scarlet: my question to you, then, is is this reflected in what ratings companies are saying about emerging-market economies? they are fairly negative on these economies, and whether ratings agencies say, they cannot do much about that. gabriel: i think ratings sometimes get behind the curve. i think they are a little bit behind the trend here in the sense that partly because rating agencies themselves use the matrices of defaults based on history, and i think history is not necessarily good view of future here. for example, they would say now b sovereignsbb to default in 10 years, based on history. i think it is a bit less now. i think recovery values are a lot higher nowadays in the sense that if you defaulted -- which the imf is pushing people to do debt, don'tfile the do big haircuts can just deal with of liquidity problems, but pay out in full later on, then it doesn't hurt you v

in brazil, the president michel temer -- chief product user -- and the chief prosecutor are facing off. lawyer is accusing the prosecutor of accusing the supreme electoral tribunals to rule against temer when they meet for the verdict. he has been hanging by a threat since the revelation of secret audio in which he is allegedly heard giving his blessing to a payment of hush money. michel temer now faces a separate threat, which could turn him out of office. supreme -- the supreme electoral court will judge accusations that the winning slate campaign with illegal undisclosed funds. the charges were brought soon after the vote after which dilma rousseff won a second term in office, in which temer was the vice president. rousseff has since been impeached with temer replacing her and is attempting to steer the country in a different direction. his lawyers will argue that double ball of any regularities apply to rousseff and not him. but they were on the same slate, and as such, there is no precedent for splitting them up. there is also no precedent for the electoral code to judge the case

the parent company of brazil's largest meat backing company has been hit with a record fine for corruptionpacker the majority meet and has agreed to pay the equivalent of 3.2 billion dollars for its role in brazil's ongoing bribery and corruption's scandals. threatening to topple the brazilian president. the company will have 25 years to complete payments on the fine. the eu and the italian government have agreed on a rescue for troubled italian bank monte di paschi after 18 talks -- 18 months of talks. lloyds banking group completed a nearly 2 billion pound takeover of mbna's credit card business. its first major acquisitions and being bailed out by the government since the financial crisis. lloyd's says it will strengthen its position in the credit card asket and raise its presence a retail and commercial lender. genie: one lucky buyer will soon be able to own a piece of motion picture history. they will have to hustle to get it. a lot of people might be interested in this. the light of dance floor from saturday night fever is going up for auction. custom-built for the 1977 film. compart

he hopes india and brazil can on an beijing's impact sdi indexes. -- msdi indexes. >> it is now 26% of, which is ok. this will not happen overnight. it will take a number of years. the good news is that hopefully india and these other markets will grow so that they will begin to balance out where china is. that remains to be seen. betty: the man who built wonka into china's biggest developer is stepping down as chairman amid a tussle as control. shi becomes vanke's top shareholder. that compares with the gains for rivals china everglades and country garden. amazon is said to be ready to sell nike shoes through a brand registry program to keep fake goods off the site. sources tell us that will let nike have greater control over its products, making sure counterfeit goods are offered by third parties. the idea sent shoe retailers tumbling. foot locker, dick's sporting goods and jv sports all slumped. president trump is sliding down the bloomberg billionaires letter as his office properties bring in less cash than creditors expected. his net worth now at $2.9 billion, down from $3 billion

one of your themes is leapfrogging into the digital era and you cite brazil, china, and india. said, you cite rapid expansion of commerce and distributional linguistics. -- logistics. how do we reposition ourselves for that theme? taimur: a monolithic view of emerging markets no longer makes sense. those old alphabet suits of acronyms -- also bit soups of acronyms no longer work. if you are looking at long-term real estate investing, countries with contract laws and political stability would not be markets we focus on. cannot be-- indonesia a long-term real investor, but it is a good market to think about short-term. of the area where we see opportunity in particular is ones that have to mastic -- that have domestic drivers and can rely on their own growth engines and that is brazil, injury -- india, china. all countries where we see the opportunity in e-commerce and mobile payments. -- themether big thing is the rising -- rising middle urban class. taimur: it is fascinating how em to em trade has gone up from 25% in emerging markets to over 40% now. a lot of the opportunities

what has happened in brazil is that for the most part, after a very difficult period, brazil turned ad economically. going to have presidential elections next year, and the stars have been aligning in favor of significant reform, mainly on the fiscal and pension side. it had been a positive surprise that president kemmer -- president temer had been a to push mainly pension reforms, certainly some noise short-term. going into the next year possible elections with a fresh mandate of a new president next year, things are just going to improve in the case of resume. the case of south africa is quite the opposite because notwithstanding, the clear evidence of secular decline in there hasdynamics, not been in the horizon that makes us believe there is going to be a turning point. jim caron, how much of this in brazil is a big 10% yield? jim: if it was not for politics this year, there would be no volatility. what we found is that a fundamental story is -- the reforms with social security and pension reforms, this is really what the country cares about. this is what the bondholders actually

remember brazil was hit by the worst recession ever in its history. just barely came back to growth in the first quarter of this year so we're looking at a one-time hit of 100 million to 400 million euro more precisely what that means for the outlook of bayer we'll get on yjuly 27th when they pu publish second quarter results they're saying unfavorable currency developments are also affecting the consumer health division negatively. we have two of the biggest units of bayer negatively affected by different reasons. so, of course it's pharmaceuticals, the biggest unit, then the crop sigh yens business then the consumer health business. if the second and third biggest units are negatively affected that explains the wild reaction of the stock price today going forward, july 27th is the date when we get more information on what that exactly will mean for the outlook of this year. perhaps also beyond it for now, of course, bayer is waiting to have their big monsanto takeover cleared. nothing has changed yet according to reuters they stick to it, so no mate

brazil, there is a discount now.e brazilian issues, economic and political situations. talk about what you are doing. you have a new aircraft. it goes to market next year. you will be rolling that out next year. how is it going? is it on track? paulo: absolutely. we are happy. the e2 family is on track, 100%. we are absolutely on time. this has wrought -- this has brought a new family of , and air transporter for cargo. the legacy for 50. guy: the market is crowded. paulo: it is crowded. big inventory of used aircrafts for sale. we have two way may be two years before we can see -- markets. you being held back on orders? do you have the order numbers you hoped for? you look a little light in terms of what we expect. paulo: we are happy with the orders. we launched this in 2013. we haven't launched entry of service. we have 275 firm orders. a potential for 600. it is pretty good for an aircraft that is not in service yet. guy: do you think the trump administration will let you sell jets to iran? paulo: probably. gotte

high stockpiling of its crop protection products in brazil. health division is not performing as well as expected. shares dropped by the most in eight months. and the securities and exchange commission is scrutinizing how hedge funds and other money managers handle hot ipo shares. according to people familiar with the matter, regulators are concerned a select few are getting access to highly profitable trades. according to bloomberg, a new listed share is gaining 60% on the first day of trading. that's your bloomberg business flash. francine: thank you, taylor. angela merkel has -- dismissed brexit and said efforts to fight climate change are irreversible. speaking to lawmakers in the lower house of parliament, the chancellor predicted discussions about the direction about global policy will be very difficult, head of the g-20 summit. donald trump will attend the summit and have his first meeting with russian president vladimir putin. now, still does, the chief strategist -- and the university of chicago professor. luigi, when you look at g-20

england plight in brazil a lot of those stadiums in south africa and brazil now all completely. american all pitch lots of seats machine missing this is the merican all one of the stadiums the one finger by the russian legacy we've already seen a lot of the stadiums are going to be used ballclub so it's in the russian premier league in the champions league in the europa league there will be a legacy at this point looking at all the teams around the world who would you say your favorite because they respond. to many in this tournament because quite simply they've got the strongest soit that we're champions of south america brought in with portugal have brought their team with them with christiane a. german a we don't know it's very much an experimental side because they've left the really big names that we're going to be expecting to stall and ask rings next year on this one and the twenty one european tournament so it's the play is in between but they still managed to beat australia three goals to a school the most goals in one game in germany always gets a finals never back aga

to join the msci emerging markets index — putting them alongside economies like india, china and brazilis quite a landmark moment, talk us through the significance of it? indeed, the country has long been known as the basket case of south asia but now it is being called the new asian tiger and, as ben mentioned, it has rejoined the emerging markets index, it was kicked out years ago because of all of the political and terror related issues, and in fact the pakistani shares have actually been outperforming the index in recent yea rs, outperforming the index in recent years, despite all those troubles, the continuing troubles. it is basically because of good corporate governance reforms as well as strong domestic consumption and china for one have been investing billions of dollars in the country, so definitely a landmark moment for the country. as always, really good to see you, thank you so much. let me show you what the numbers are doing, you saw the decay at the bottom of the screen, but new month, same old worries, trump, brexit, and the election, greece's debt worries, all that on t

and it could all come to a head again later today as brazil's top electoral court resumes it's trialr. this is how the economy has fared over the last five years. since rousseff was voted into office, there have been two years of recession — ending last week when growth of 1% was reported for the beginning of this year. she was impeached ten months ago and succeeded by michel temer who has focused on economic reforms but could now be out of office of office by wednesday. government policy is important because non—financial companies owned by the state account for nearly 18% of the economy. the two biggest are eletrobras and petrobras. the latter is the state owned oil giant at the heart of the corruption allegations and was once the biggest company in latin america. petrobras used to be one of the biggest south american companies. apple has held its annual developers conference in silicon valley. the tech giant has announced a voice—activated loudspeaker powered by its virtual assistant siri. apple's "homepod" speaker can respond to questions and control other devices such as lights

another day, another political crisis in brazil. this one very unfortunate, as the country is expected to announce a return to growth for the first time since 2014. we have a report from the capital brasilia. for many, climate change is the most important issue facing the planet. president trump has called it a chinese hoax, an american job—killer. one of his big election campaign promises was pulling the us out of the biggest international agreement ever drawn up to combat climate change. he's now said he'll give his decision later on thursday. china and the european union are preparing a joint statement in support of the paris accord. david willis reports from washington. the trump white house is said to be deeply divided on the issue of global warming. the president's daughter favours america remaining pa rt daughter favours america remaining part of the paris accord. as does the g7, whose leaders, including angela merkel, took time out last week in sicily to lobby donald trump on the issue. even pope francis rallied to the defen

the german national team brazil come close and then walk more world cups bring terms of consistency. in terms of bringing through younger players that then go on to be world superstars or watch the likes of mom while noir measure. toni kroos mario good get caps for the first time before the two thousand and ten world cup four years later they want to it will be exactly the same with the likes of team over in a two golds already but it's not one germany never won the confederations cup because they using this as a chance to blood play it seems to me the most important producer and a nice to win the biggest prize of them all and that's the.