look at the business news with brian quinn. you are starting in argentina, where the government is asking -- to extend the payment. the countries economic crisis continues with massive demonstrations to protest austerity or measures ausustrala -- argentina's blame on --. to extendna is hoping the payment period of $101 billion worth of government that cash seeks to reserve reserves for default. payments due to restart in 2021. >> we ask them to initiate dialogue. it has to conclude in n the next term. >> the move comes two months ahead of argentina's presidential election. of president's chance reelection are looking slim. with anre unhappy economy in crisis. inflation is that 55% and nearly one third of the population lives in poverty. many point the finger at the imf. a stringuts came with of unpopular austerity measures. thousands protested against this on the streets. >> we are here to protest.. >> it brings back bad mememorie. many blamed the measures for the previous crisis. european indexes are surging as investors see u

brian quinn has more. >>>> paradisise inflames. a major wildfire is raging on the spanisish island.he blaze could take days to bring under control. facing fires that are not stabilized or controlled. has two flames, on the left and the right. it has a head and a tail. it is a raging fire that is affecting the islands. the second most populous of the canary islands. a major tourist destination that draws 14 million visitors annually. the latest fire broke out saturdrday afternoon. temperatures nearing 40 degrees celsius with low humidity and strong wind creating the perfect conditions for the blaze to spread.. 1700nday afternoon, some hectares had been scorched as the fire continued to advance. evacuations were ongoing. some 5000 people have been displaced from at least 40 towns. h hand toghters are on battlele the wildfire with suppt from over a dodozen aircraft. the latest fire comes after another broke out in the same region. it forced hundreds to evacuate. >> yesterday was international floss day. pajamasn excuse to wear all day long in one town. weit is the one day of year will

i am joined by brian quinn. s start with the latest in legal actions running america's deadly opioid addiction crisis. brian: there was a $272 million judgment against johnson and johnson for its role in promoting painkillers. purdue pharma is reportedly offering 10 billion to $12 billion to settle thousands of lawsuits. oxycontin has been central to the opiod crisis in the u.s., in an epidemic that has cost hundreds of thousands of lives. reporter: oxycontin is a drug that has become synonymous with the opiod crisis and its 400,000 deaths in the united states in the past two decades. purdue pharma has for months been in talks about reaching a global settlement. for perdue and the family behind it, the sacklers, increasing international pressure. with protests and 2000 lawsuits, the drugmaker and others are facing it. the u.s. media reports purdue is close to finalizing a deal to settle thousands of lawsuits in one swoop. "the new york times" reports that purdue pharma will file for bankruptcy and contribute $10

quinn. guy: from london, i'm guy johnson. this is "bloomberg markets." recession fears are ending up. bank of america ceo briannahan weighing in earlier this hour. brian: the bond market is signaling something. people are raising their estimates of recession from 30% to 40%, but we have seen nothing in the underlying data that says it is happening today. guy: brian moynahan talking to bloomberg a little bit earlier on. the u.s. consumer is holding up the u.s. economy right now. that is the story we have continued to talk about time and time again. , michelle girard, natwest markets chief u.s. economist, live from connecticut. don't seeahan says we much concern for recession at the moment. the u.s. consumer is still spending did -- is still spending big. however, crocs are starting to appear. we've just had the michigan consumer confidence data -- are starting to appear. we just had the michigan consumer confidence data disappointing. michelle: there's a lot of unsettling news. we saw from the university of michigan report that the decline in sentiment had a lot to do with the tariffs and they concern they had