brent: this is dw news live from berlin. tonight, she is no longer president of brazil -- doma recep has been removed from office. senators voted to strip her of all duties and privileges following an impeachment trial. lawmakers say it she illegally manipulated the budget when she ran for reelection in 2014. is this the end of the political crisis or just the next chapter? also this hour, we can do this -- those words were the german chancellor's rally call to confront an unprecedented refugee crisis. one year later, we ask didn't chancellor make history by making a big mistake? i'm brent goff. good to have you with us. a political earthquake in brazil that most protected would come. senators in the country have voted to remove the president from office. they voted 61-20 in favor of sacking dilma rousseff who has been suspended since may. they found she had illegally manipulated government budgets during her 2014 reelection campaign. rousseff denounced the charges, saying the impeachmeme trial amounted to a coup. the vice p

brent: this is dw news.till to come, the old harry potter magic, fans can scarcely contain themselves as the latest tale of magical mayhem hits the bookshop. we will tell you what is in store with that. ♪ brent: welcome back. you are with dw news live from berlin. donald trump has fallen out with republican party bigwigs. he climbed to endorse -- declined to endorse him because -- them because they were slow to endorse him. this party campaign is imploding. ahead of decision day for the bank of england, things not looking good for their economy. daniel is here now with that story. daniel: you could call it the brexit blues. this is a foregone conclusion, a rate cut. that is conclusions from the rate for market. the u.k. economy is shanking at the fastest rate since the financial crisis. what is not clear is if this is just a knee-jerk reaction to the brexit vote or worse, the beginning of another recession. reporter: it is a big job, the bank of england must keep this post brexit referendum decision at bay.

brent: richard walker in washington. we will talk with you on the day and about half an hour from now, thank you very much. we are going to stay with politics and moved to south africa. polling stations have closed in local elections that could see the biggest political shakeup since the end of apartheid two decades ago. the reasons, a struggling economy and a series of corruption scandals involving president jacob zuma. voters are turning to opposition parties and the ruling african national congress could lose control of major cities. reporter: voters braved the winter weather and long lines to cast their ballot in the hotly contested local elections. those who remember the days when black south africans were not allowed to vote saw it as their duty to take part. >> it is a dream to know that one man can vote in south africa. it is fantastic, and i hope everybody want to use their vote in the right way. reporter: the anc, the party of nelson mandela, has been dominant since apartheid 22 years ago. but with a fragile ec

brent has a story he's heard from the grapevine. brent: thank you, daniel. the ancient germantown has crowned its new wine queen. she is a refugee from syria who arrived just a few years ago. she fled war at home to get accustomed to life in germany and now has become an it ambassador for her new hometown. soon she will compete at the national level the title of german wine queen. >> she's young, 26 years old, and has a winning smile. in other words, everything a wine queen needs. the fact that she has attracted so many photographers surely has to do with her background. she is from area and three years ago she let the double war there and came to germany. now she's combining hearst that is with a political message. >> out like to say thank you to germany for having taken me in. i would also like to say that this is a very beautiful city. also that the people here are wonderful. the vendors noticed the syrian christian when she worked as a translator during a meeting with refugees. now she will represent the wine producers during up to 60 events. in real lif

santa rosa, napa concord. 80s far enough away in lake county probably out to antioch and brent wood but most locations that have been in the 80s will be in the 70s it started for some last couple days. we are in a significant cooler pattern here especially today. it will bottom out today much bigger fog bank drizzle, rip roaring turbo charge delta breeze everything is in place. cloud cover just pouring in on the low clouds, 60s, 60s, 70s. 80s but livermore will be a soft 80. soft 80. sal happy friday. >> same to you steve happy friday. we are looking at some of these commute that is are doing very well to start off our friday we are hoping to get a little bit of a lighter commute. this is a look at the commute from vacaville, fairfield, vallejo, a nice looking drive all the way through down to the carcenas bridge. heading out to the junction where a lot of traffic splits off. looking at the commute driving on interstate 880 it is a very nice drive this is in oakland no surprises today traffic continues to look good at the bay bridge toll plaza you will see traffic is looking good gettin

i was just talking about brent. for good measure, let's show you the price of oil at the moment. 48.17 on brent. the full story is that imex is higher somewhere in the region of 8.5 on the week. brent a similar amount as well. you've got oil though, higher by more than 20% since august. that is in the bull market as its called for oil. now, john williams has become the latest fed official to signal a hike in september. the san francisco fed says the bank should raise rates sooner than later given the domestic momentum we're seeing. he warning the u.s. economy could overheat equating the situation to a party at which the host fails to remove the punch bowl. if i hear this metaphor one more time, i'm going have a melt down. the new york fed president echoed the positive assessment of the u.s. economy highlighting positive signs in the labor market. steven say we'll is with us at the top of the morning. good morning steven, i had a shock when i saw you, given the facial changes, but it suits you very well. >> complimen

brent: just right place, right time. if they would give medals for brent describes himself as a sports superfan. selfies won't be complete without that one selfie he's sfx ((3 x keyable question mark gfxs popping out)) [[1 second]] michael phelps! ((keyable sparkle over teeth gfx)) [sot] brent: ... phelps is like my white buffalo. he's the reason i skipped my flight home. [[10 seconds]] that's right: brent had to call his boss to ask for more vacation time so he could stay in rio longer to pursue a coveted selfie with interview with him is just a front. [sot] tj: before i continue, i need you to come around here, we're going to do it from this angle bf - okay tj - and i want you to tell me the trick now to doing a selfie (at this point you see phelps in the background starting to run up) tj - let's see here (at this point you can clearly see it's phelps) bf - flip it around tj - flip it around for me bf - oh!!! (realizes mp is photobombing) no way! tj - yes! bf (to phelps) - what's up man mp - how are you? bf - so good m

brent crude now below $49 a barrel. down by about .30%. oil a focus. the currency moves. at least for right now across the major currency pairs. >>> time for this morning's must reads. the stories catching our attention. mine is in the "wall street journal." the fact the robots are coming because andy kesler says we should welcome them and a former hedge fund manager. author of eat people. he says looks what happened over history. computers killed jobs for those with rulers and kpak toe knives that were laying out magazines or constructing physical spreadsheets. now wall street doesn't exist without microsoft office. in each case, technology augments humans rather than replaces them. goes through a few other examples as well to show that, yes, technology can have the impact of destroying jobs, but it can also enhance progress and enhance jobs and education to try to get students enlisted instead of french literature into engineering and computer sciences and we should embrace technology. it's just a different take than sort of conventional wisdom that

brent foalen of fort worth, texas, the undisputed selfie king of the rio olympics.ing her medal ceremony. >> right place right time. if they would give medals to spectators, i would for sure get a gold for my performance this olympics. >> reporter: brent describes himself as a sports super fan. he used all his vacation time to be here. his wild ride in rio and his impressive collection of selfies won't be complete without that one selfie he's desperate to get. michael phelps. >> phelps is like my white buffalo. he's the reason why i skipped my flight home. >> reporter: that's right. he had to call his boss to ask for more vacation time to stay in rio longer to pursue a coveted selfie with phelps. will the gamble pay off? well, what brent doesn't know is that our interview with him is just a front. >> tell me the trick now to doing a selfie. let's see here. what's the trick? look around for me. yeah. what's the trick? >> oh. >> there's a trick to doing this selfie. >> no way. >> yes. >> what's up, man? so good. this is not real. >> reporter: he just called you his wh

alix: the brent dubai oil spread, i label at the most important in the world.nt equals light oil and dubai equals heavy oil. that's the way you were framing it. we have a ton of heavy supply coming online, so that spread is going to keep widening. talk us through the logistics of that. guest: that's a little bit of a nuance. , you are seeing the soprano -- the supplies because that is the oil that comes out of the ground in the u.s. and we have had a major downturn. we are getting more saudi and iraqi and iranian barrels. to a wider will lead spread and as demand picks up the inventories which are pretty hike, the next move will be brent and wti of the world. >> you could pick any analyst and say why his crew back in a bull market and they say that it is intervention. from what i again from you in the last four minutes, you don't think that's the story. why? guest: opec can come in and talk and i wrote about this a couple of years ago following the opec meeting in 2014 where they assemble the cartel. i think it remains dysfunctional commentary bute in the last

take a look at this chart i have tracking brent crude in white. wti and blue. bull market levels of brent crude and $50 spot 16. now so are0.51 right we enable market? what has been pushing it higher really is a number of things. we had a weaker dollar that has been pushing commodities higher today, but also saudi's energy minister saying informal talks in september mainly to actions to stabilize the markets. that is a 13% surge over five sessions. vonnie: not only that, but what is interesting is the discounts to the global benchmarks brent is widening once again. now we are at $2.33 and change for the discount between wti and the global benchmark brent. at 2828.ee that if we go to 2827, this is concerning. this is the discount when it comes to other oils so if you look at the discount between wti and venezuela's heavier oil, it is now at nine dollars. this is because venezuela is expanding production because it needs to. the country is in a lot of trouble. the oil is getting heavier and less attractive to refiners, particularly as the u.s. ramps up production

brent crude trading above $50 a barrel.bout it, two weeks ago was threatening to break under 40. now 50. that's 25%. u.s. equity futures as a result heading up. red arrows in europe. a full market run down coming up. reports of a truth in the redstone viacom drama. replaced immediately. details straight ahead including a sizable severance package. donald trump striking a new tone on the campaign trail. expressing regret for things that he has said that may have caused personal pain. it's friday, august 19, 2016 and "squawk box" begins right now. gl bloelksgood morning, everybo i'm becky quick with joe kernen. andrew is reporting from the olympics in rio. we'll get to him in just a moment. in the meantime, check out the u.s. equity futures this hour. some relatively steep declines based on what we've seen recently. the dow is down 51 points. s&p down close to 7 and nasdaq down 13. at this point, the losses could push you into negative territory. if the nasdaq does

we think it will be difficult for brent to reach the $55 level.n the short-term, we would be expecting a little bit of profit taking, but this would be profit taking in an upward trend. yousef: let's discuss the importance of oil when it comes to the gulf. thank you for joining us today. it is hugely important and it is playing out in industries far and wide when it comes to the gulf. >> well, sure. i think our position, if you compare it to our rating options, has not changed materially. prices rising.l we have also adjusted our oil price forecast. gulfe still think the countries in our base line targeto can sustain the of $44 to $50 a barrel in the medium term. yousef: i am looking at your reports. youtrikes me that it seems are more positive on the rebound we are seeing in oil prices, and the consolidation and the fiscal changes happening in the gulf. >> well, there might be a risk that higher oil prices could actually slow down the appetite on the fiscal front. we have seen some action here, in kuwait is the latest example. if you look at the

top of the chart, brent crude. you know why. looking ahead to algiers. -- high hopes ahead of the opec. a mere 11% over the month. the best-performing asset out of the four. i am feeling nostalgic. vonnie: i have to give it to mark today. that was a wonderful presentation. always surprising winners at the end of every month. i had almost forgotten it was the last day of august. we will do it all over again. coming up, a live report from brazil as we wait for the results of the final vote on the future of president dilma rousseff. this is "bloomberg." ♪ live from london and new york, i vonnie quinn. mark: this is the bloomberg close on bloomberg markets on bloomberg television. vonnie: let's turn to a developing story, live pictures or you will be -- there you go. brazil, the senate getting ready to take its final vote on the fate of president dilma rousseff . the result expected to come at any moment. latest?the >> they have not started voting yet. they're discussing if they should split the vote into one that was strip rousseff of her political rights f

cannot go out and play this game and disregarder things that are important, such as your churn. >> brent and brianna daley are each charged with one count of child abuse. >>> things are getting ugly between the arizona diamondbacks supervisors. >> it is a battle over tens of millions of dollars of improvements that the team wants. mark martinez joins us live with the tour tonight. >> reporter: john and kari, the feud between the diamondacks and the maricopa board of supervisors has reached a fever pitch over tens of millions of dollars of improvements. things got h supervisor and d-backs derrick hall. >> i apologize for my choice of words but not for my passionate belief. >> reporter: he says he is sorry for a recent confrontation he had with derrick hall in a parking structure in chase field. he hand delivered this letter to team management regarding $65 million improvements that pay for. as for your business, profession baseball is evolving into a pair a it isic enterprise that is well on its way to destroy its host. he admits to saying if it were to me and take your stupid baseball te

brent crude rises 43rd day. -- rises for a third day. london properties are taking longer to sell this month despite a summer price cuts. a focus on results in an hour. brexit gloom. the data this week that will show the early effects. first account, inflation. -- first to come, inflation. that is tomorrow. ♪ manus: you are welcome. it is monday morning, it is "countdown." pound, are net short the and they have been for many years. we are around 129.20. we are near a 31 year low. net position isn't short as short can be. post brexit, the morning we woke up, 127.98. 10 -- sayne dollar $1.10 is on the way. we have been rising for five straight days, giving a little back. parity is on the way by the end of 2017. have a look at the risk radar. oil on the move, gold on the move. chinese stocks hitting a seven-month high. not much owned, not much love. 39.29. real estate property companies are headed for the steepest two day rally in almost a year. we have more from asia. the saudi arabian oil minister mentioned last week in a statement action

it is soggy, to say the least. 47.87 on brent crude.berg. ♪ tom: good morning, everyone. let's get a briefing for ourselves and for edward morse of citigroup. oil debt in the united states -- it has been an interesting ride, from 100 30. what is the state of oil debt? is in an opportunity? edward: the good news is that the companies needed -- become it is that needed to devolve have done so. we are in a restructuring period, the low rated companies, the ones that have balance sheet pressures. they are shoring up liquidity, and that is helping them. the real at-risk companies have fallen by the wayside. that is happening at the lower end. tom: what is a coupon i can get with his garbage in ed morse's world? george: for some of the more deeply distressed names -- tom: seriously? i was making a joke. george: 6% is at the higher coupon level. for the bigger names, it is 2%. thin, andl relatively there is a sharp dichotomy between what is happening at the lower end of the rating spectrum where there is a lot of balance sheet repair, and at t

brent below 50 a barrel. also gas sliding as well.d pricing let's check in on it since we are awaiting jackson hole. janet yellen clear when she talks about september being on the table when it comes to interest rate hike. gold pricing telling us 1338 an ounce. >> gold prices with currencies. let's show that as well. currency always a big part of the story. euro you can see down lower, 112.98. last trade. dollar yen 100. pound, dollar weaker against pound, 13106 what will cost to buy a pound sterling in the market. tomorrow look for july home sales followed by existing home sales on wednesday. thursday jobless claims and durable goods number for july. on friday it's the second estimate on second quarter gdp as well as final report on august consumer sentiment. the big item to watch this week also comes on friday. it's fed chair janet yellen's speech kansas city fed symposium in jackson hole wyoming. lighter week overall. best buy, toll brothers, tiffany, all those on the calendar reporting this week. we're in the waning part of the se

so we'll see a lot of brent. tonight, a phony article about yours truly manages to climb its way to the top of facebook's trending feature. fired. what? so can i sue my friends at facebook? eiglarsh and (announcer vo) who says your desk phone always has to be at your desk? now, with one talk from verizon... hi, pete. i'm glad you called. (announcer vo) all your phones can work together on one number. you can move calls between phones, so conversations can go where you go. take your time. i'm not going anywhere. (announcer vo) and when you're not available, one talk helps find the right person who is. hi, john. (announcer vo) so wherever work takes you, you can put your customers first. introducing one talk-- another way verizon connects your business better. learn how at onetalk.com. >>> so earlier this week, facebook started pushing a false story about yours truly. the headline read, breaking. fox news exposes traitor, megyn kelly. kicks her out for backing hillary. what? they did this on the very first weekend

so we'll see a lot of brent.ny article about yours truly manages to climb its way to the top of facebook's trending feature. fired. what? so can i sue my friends at facebook? eiglarsh and endel are here to weigh in next. [ "dreams" by beck ] hmmmmm... the turbocharged dream machine. the volkswagen golf gti. named one of car and driver's 10best, 10 years in a row. ♪ if you have moderate to severe plaque psoriasis isn't it time to let the real you shi ne through? introducing otezla (apremilast). otezla is not an injection or a cream. it's a pill that treats plaque psoriasis differently. with otezla, 75% clearer skin is achievable after just 4 months, with reduced redness thickness, and scaliness of plaques. and the otezla prescribing information has no requirement for routine lab monitoring. don't take otezla if you are allergic to any of its ingredients. otezla may increase the risk of depression. tell your doctor if you have a history of depression or suicidal thoughts or if these feelings develop. some people ta

what does your world do when indeterminate brent crude?ime positioning themselves to survive. the conversation we now have with those senior executives, especially in the mid tier companies -- they know they now need to move to something of growth move, but they are not sure when they pull that trigger. it is the when. the longer we stay in the low $40, the longer they are not going to pull that trigger. tom: ira jersey and skip york. include check will brent crude, because we aim to freeze -- aim to please. ira jersey noting that the 98.ad is like one dollar to london, new york, this is bloomberg. ♪ francine: this is "bloomberg surveillance," i'm francine lacqua in london. >> shares rose to sort -- despite being the worst performer. the bank is working on a plan for private investors to bolster finances. another unit saw 5%. unicredit was the second worst performer in the stress test. more on this after this. china is considering the sweeping overhaul of its deal industry. according to people familiar with the plan, steel would be consoli

and so that to me is a tremendously selfish move. >> all right, that is brent jones on the radio thisning. in the meantime this is like the last thing that you would want to have happen if you are an nfl ball club with contention in mind. the minnesota vikings get ready for the last game. teddy bridgewater, you hate to see this, a non-contact drill and he went down in a heap. it says that he has a torn acl and a dislocated knee. just a gruesome injury. obviously he'll miss this entire season if you think about it too. they said that he had to be sedated just to take his mri. he was in a great deal of pain and that as we say that you just hate to see that happen. and the a's, off the field you know coco crisp has not been real happy with the way that things have gone for him. he's been traded to the cleveland indians, the official announcement will come tomorrow. we'll find out who they receive in exchange that we do know that coco waived that no trade clause in his contract. 36-year-old outfielder will go to the indians. meanwhile the a's are in action as you'll see a nice play from r

if you were looking at brent crude at the bottom, $50, $.58 -- $50.58.terling gets my attention as well. a stronger sterling confounding the crew. similar -- have very i have a very similar board to u.k. looking at oil. trading above $48. this is a picture of the yen. i want to show you something different. the south korean won sliding to a month low. 1117.51. south korea is arguably the most american-like society in asia. let's go over to the bloomberg. tie-break three rules roles. it is break rules friday. i think it is the ugliest, busiest chart i have ever done. the white line is headline cpi. in the right corner, the headline cpi goes down, because oil. the red and yellow lines are medical inflation, spiking up in red. and owners equivalent rents, which is like rent in london, except it is in the united states, grinding up as well. we have never seen that separation between the red and the yellow. higher inflation. and the white line, headline inflation, going back in 20 years once. coming off the 2000 recession. it is a rare moment. that is one of

. >> there was no love for brent celek, of course, from the eagles, he was there just working coffee there of the wawa. >> that was good stuff. >> people in the zone they just want nothing to do with it. >> we have wawa coffee. >> we do. >> you would have taken some. >> absolutely. >> i would have been inquiring about the whole milk thing. >> yes. >> i'm thinking, he is funny. >> he was there in the wawa uniform for a day to surprise customers. katie, you would have talk to him too. >> yes, the thing that would have stopped me yeah, i got training camp later, like, sorry, what? i know who you are. >> that is so funny. >> these football players, they are so, up in their pads with their helmets on you may not recognize them when you walk down the street. >> one lady stopped him and said i have been coming here for 20 years like get out of the way. >> well, we have much love for brent celek, let's just put it out there. if we can go out to the graphic, get you to it, here, hot, steamy and i can attest to that being outside on the skies deck. it is steamy. there is a couple speckles of g

let's that i cake a look at oil ice brent $49.15.hat's down by a full percentage point here as well in gasoline prices you can see off 1% as well. >>> let's turn to the global markets. louisa bojesen covering the early action for european trade for us. let's start with the close in asia. important economic data to get to and shri. good morning, guys. >> top of the morning, sara. ler let's start with japan and the inflation data continue to stress we admire in the deflationry environment in japan. 2% inflation target looks increasingly elusive. it's like the play, waiting for gado. that does put pressure on the bank of japan. we are watching dollar yen. if we remain in these kind of regions around the century mark, possibly lower, that could cross the mind of the boj. we are spinni inning wheels her until we get charity from janet yellen. next week will be interesting. we do have a lot of regional data to get through. including the latest gdp data from india. that where we stand. i'm going to hand off to louisa bojesen in london. >> a

ice brent and crude down about 1.25%.ara, back over to you. >> three points might be all it takes to see a record high these days. >>> this morning we saw europe's economy sow slow down of growth. >> good morning, that's right. when you rook at the german economic growth it was in line with forecast and holding steady on an annual basis. that's perceived somewhat as good news. we're not yet seeing an brexit effect when it comes to to doomsday economic scenarios that were predicted. we had solid data yesterday. stronger when you look at manufacturing rather than services. so far appears those figures are holding steady. the dog days of summer the real focus is on janet yellen. the count down is underway. we also have some earnings reports in focus on the session. that's why you're seeing a bit of a mixed picture across the individual. you'll notice the ftse 100 only major market. this is due to weakness in basic resources that was brought on after results from glen core and weakness in other minors there. again core did re

brent interestingly going the other way. we'll see if wti can hang on to gains. it is lower this morning, but it is still firmly above 49. >> as for ten-year treasury note yield. noncommittal after dudly more hawkish comments the fact is the fed is going to wait to see how the data plays out and leave the options open to see if it's going to raise interest rates in september which the market is not pricing in or december which is market is not pricing in as well. as for the u.s. dollar, it's been weaker over the course of the last few weeks. 1.13 is the euro dollar. it is stronger against the japanese yen which is notable because the yen weakness has fueled the japd market and the u.s. market so if that maintains that could add to a better tone of today's session. the pound is stronger this morning on the back of retail sales. 1.3160 or so. >> and the nikkei down early today not because of the yen, but disappointing trade data out of japan. quick look at gold prices as we stand this morning are slightly higher to the tune of a quarter of a percent. 1352 the price

. >>> if you visited a local wawa recently you may have been addressed, by eagles tightened brent brent celek. >> any big plans for the weekend. >> yeah, i got training camp to go to. i got to go to training camp. >> you like french vanilla. >> yes. >> you have been here before. >> come in here every day. >> yeah. >> all about consistency. >> you look like you are on a mission. >> yes. >> is there a way i can coach you through. >> no i have been coming here 20 years. >> i get it. >> oh, geese. like sugar. put more sugar in there then anyone all day to day. >> is this for you. >> number one sugar guy right there. >> it is good. >> perfect. >> he will get his own show. >> he will get his own show. >> people november clue they are like this crazy guy, what is he doing. >> yes. >> they didn't know. >> they had no idea. >> you are number one sugar guy man. >> he hand him the foam finger. >> i love that. >> he and dor boss, they will get to have their own show. >> i love that guy, hysterical. >> mother nature will put a show on for us in the form of heat. >> mother nature is not cooperating t

brent is higher above $46 a barrel. 46.35.s to be under pressure and talk continues to swirl. countries like swenz are really hurting vuls of the low oil price is. countries like saudi arabia are ramping up production. >> that's why we got the big jump yesterday. talk we might once get an opec decision to freeze out. we heard that talk before. >> we saw the meeting before in april and nothing happened. ten-year treasury note wield slightly higher. money going out of stocks and into bonds. stocks for a change leave tlg charge here in the bond market. 1.54 is the-year-old on the ten-year treasury. that's the economic data point of the day. as for the dollar, it's a bit weaker against the euro. stronger against the japanese yen. that has been a big focus. that level above 102 importantly for japan. saw 1% pop in equities overnight. back below 1 pnts 30 against the dollar. gold is stronger right now. >> weaker. my bad. .5%. it's holding near recent highs. it's been an opposite dollar story with gold. >> it has indeed. lots of data

brent wti continue to be big drivers on the equities trading session. otherwise quiet trading session. brent crude lower. we did get a new note from gold man sax calling any recovery fragile. it will analysts say that as i mentioned it will be fragile. warning the disruptions in niger ra, iraq, and libya are easing. they added the recent move higher was not driven by market fundamentals, but expectations of a potential output freeze and the weakening dollar. goldman has kept forecast of 45 to $50 a barrel for brent. >> startup called energy systems is close to a new lithium battery double the energy of current lithium ion batteries. the breakthrough reduces the tendency of such batteries to burst into flames is down to a thin lithium metal foil. the company expects to sell the batteries for smartphones early next year and for electric vehicles in 2018. >> mik peter. great to have you on the show. >> the use is far more broad. can you give us a sense of what it's used for and what your priceout look is too. >> just demand originally driven by glass and c

. -- have a look at where brent is trading. the rebound is continuing.lineseing continuing with respect to bond prices. have a look at this. chart ofyou the today the yield in the aussie 10 year. a drop three days back into a record low. from there, we are up the most in 14 months. have a look at the 10 year bond. this, a one-week change, from this time last week when the selloff began, up 21 basis points. to zeroushing closer right now. that is something to follow as well. rishaad: thanks. upper house has approved the creation of a national sales tax a decade after it was first proposed. victory since prime minister modi took office. as one of seen india's most a significant reforms since the 1990's, first proposed 10 years ago. it is a major win for prime minister modi. theame to office with biggest mandate in 30 years on the back of a platform that promised economic reforms and opening up. indian lawmakers voted bill.ously to pass the it replaces 17 levees, taxed at consumption. it creates a single market of 1.3 billion consumers. aim to ease the move

as we see brent between 45 and $50 a barrel. at the cusp of pricing environment that we can just begin investing again. i think our situation is probably not that atypical. somewhere between 45 and $50 a barrel. you may start seeing people coming back and spending a little more capital. as we see it now, i just saw some information over the past couple days that the rate of discoveries worldwide were the lowest they've been for decades in the past year. so at the prices we've been all facing, we're probably not in a situation where oil supply demand will be stainable over the long-term. if we start seeing prices inching up into $50 brent or above, hopefully the producers are going to start coming in again and be a little more security supply. people are saying there's no such thing as $100 oil coming in. low for this period of time, you could see increased price shock in the future. >> that's really fascinating, but what you're saying is $6 lifting cost, mr. xetra from $25. others across the world including especially the non-op

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. >> reporter: olympic superfan brent folan dubs himself the selfie king of the rio games. here he is posing with the final five. he also caught up with gold medal swimmer ryan murphy. even photobombing gymnast ceremony. you're some kind of a selfie whiz. what it is? >> just right place, right time. >> reporter: the superfan even called his boss to ask for more vacation time, so he could stay in rio longer. in part because of that elusive athlete folan had yet to catch up with. michael phelps. >> phelps is like my white buffalo. >> reporter: what brent doesn't know, is that our interview with him is just a front. the trick now to doing a selfie -- let's see here. what -- what's the trick? >> flip it around for me. yeah. >> reporter: what's the trick -- >> oh! >> reporter: there's a trick to doing this selfie -- >> turn around. >> what's up man? >> how are you? >> reporter: so, one photo folan wasn't able to crash. this any punew pic posted today. >> great to see michael phelps back home, and we hope to see you right back here tomorrow. >>> right now on "the list." maximize

. >>> still to come in sports, eagles tight end brent celek deserves a medal for catching wawa customersnext. where things come from? how they get here? what they're packed in? it's a lot of stuff. and these things add up. that's why we recycle. [vo:]it's nice to know that raymour and flanigan is proud to be a leading recycler- 17 million pounds of recyclable materials every year. turned from trash into treasure. so in the future, we will all have a more beautiful world. ♪ ♪ hey, is this our turn? honey...our turn? yeah, we go left right here. (woman vo) great adventures are still out there. we'll find them in our subaru outback. (avo) love. it's what makes a subaru, a subaru. get zero percent on select subaru models during the subaru a lot to love event, now through august thirty-first. >>> eagles tight end brent celek is among the longest tenured athletes in town so you would think he couldn't even walk in a wawa without someone asking for a selfie. think again. celek goes to work at a wawa undercover as a prank. take a look. >> is there a way i can coach you through? >> no. >> i've be

brent hovrps above $48 a barrel.ff almost .75%. >> at the tend of a strong month for oil. >>> let's move on to individual stocks to watch today. fortune reports google nest lab maker of smoke detecters and thermostats is undergoing a major restructuring. the development team will become a part of google to provide an internet of things platform. google paid 3.2 billion in 2016. >>> hr block reporting a wider loss. the tax service provider said it had fewer customers in the u.s. and results impacted by foreign currency. down 5%. >>> spending by companies and cyber stayed strong over the first profit. and revenue forecast is below estimates. down over 5%. >>> other stocks to watch today, viva systems reporting better than expected second quarter results. revenue rising 34%. cloud computing company focuses on sex life sciences sector. expecting third quarter results to come in above analyst forecast. >>> astrazeneca will pay to avoid a bribery probe. to state officials in russia and china. however astrazeneca is not adm

brent down a percent as well. we got into the 40 range on friday. as for the currency market, the euro is weakening a bit. a weak day for the dollar on friday. euro dollar 111. it's all on the fed, it seems like for the currency markets right now. and the bank of england, which is due later this week and there are expectations that it will move in terms of stimulus, potential qe, lowering rates, you name it to fight the brexit impact. 131 is the pound. it's under pressure. dollar yen, strong dollar, weaker yen, that's a reversal of last week. that means sentiment is better. >> it is better this morning. it's build to go that jobs report in the u.s. >> on friday. >> the quickly gold here. moves of course in opposite directions. for the dollar. it's a bit stronger this morning. gold back up. to 0.1%. >>> now to the top corporate story. uber set to merge with rival chinese service didi in a deal that would value the company at $35 billion. eunice yun joins us with the details. hello eunice. >> hi, mike. in the past half hour, didi as well as some sourc

brent crude on the 50 watch. 48.75. and a weakerut, yen right away. talk sterling and brexit. have to look at the u.k. labor market showing strength. their bank of england inflation forecast at the same time. plenty more brexit next. tom: let's go to the bloomberg first word news. taylor: donald trump is overhauling his campaign, sending a signal he will not change his style. stephen bannon, who runs breitbart news. conway willlyanne be the campaign manager. the moves are seen as a demotion for paul manafort. nobel prize-winning economist paul krugman says american should discount trump's business background. >> we have this delusion that business experience has a lot to do with running economic policy. they are very different domains. generally -- genuinely great businessman generally have no clue about macroeconomics. a particular, the trump style, to borrow a lot of money and then walk away and have some entity go bankrupt -- that will not work for the next states government. tolor: krugman spoke bloomberg tv. in los angeles, a wildfire has forced

have a look at oil prices. -- $44, rather, on brent.nt of shorts were built up before 2-3 days ago. that is leading to a rally in currencies like the ringgit. it is still asia's worst performing for the past month. we are looking at the slowest pay some growth in seven years. you have these investigations scandal.1mdb consensus is a further drop in oil prices. that is the consensus and read for dollar-ringgit. to mention, innt gm china out with earnings, a big drop of 19%. street rap, analysts have reiterated by or hold. a lot of people have been watching this. the stock collapsed 95% last week. up 112% this week so far. people are taking advantage of the short seller report driving the stock down. that has picked up about 112%. it is up a further 3.5% right now. let me wrap things up with what else we are watching. earnings continues to be a story in japan. out with first-quarter earnings, beat estimates. 1.47% of shares. rishaad: thank you very much indeed. coming up, art cars becoming smart devices on wheels? the managingwith directo