caroline: i am caroline hyde.res of bp on the rise today as the company's second-quarter results beat estimates. lastly, the company announced it would by shale assets from bhp. the ceo told us that the oil market will be firmer, rather than softer, for the rest of the year. bob: when you look at the uncertainties with iran, what will it mean for the markets? venezuela is a human tragedy unfolding and it will affect the oil markets. you have outages in my be a and -- and libya in algeria from time to time, and detentions coming out of the persian gulf. the on the other side, production is keeping up. u.s. production will rise. it is a bit bottlenecked in the permian basin, so there are offsetting factors here. caroline: that was bob dudley, who also said that the robust amid for oil gave him the confidence to raise 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

caroline: in london, i'm caroline hyde.al committee started its meeting in couple of hours ago and before that the bank of japan tweeted its stimulus program. haruhiko kuroda committed to long-term stimulus. we are joined by richard jones. richard, start with the boj and then we will move on. the boj kept the policy variables untouched, but they did tweak some of the lingered and is sentiment. how does that change the spirit of what the boj is doing? richard: i do not think it changes it very much. when the announcement first came out, the initial headlines where that the boj was going to try to perhaps tolerate more to weigh risk in the market by widening their tolerance bands around their zero bucket for 10 year yields. the thing that took hold and what really weekend -- w eakened the yields was that they announced they were downgrading their inflation forecasts for this year and next year, 2020. they also said that they would keep rates low and keep monetary accommodative for the foreseeable future, for an extended perio

caroline: thanks.the uncertainty around brexit and changes to the global trading environment are among the key rights of business leaders alike. byrne.t guest is bernard you were in front of irish lawmakers saying the same thing, how do you navigate the geopolitical waters? bernard: thank you. i think the issue we were talking about in the office was the irish economy is doing well and the fundamentals are strong. as a large place in the marketplace, we see domestic strong and the risks of their. external to the economy, it is capable of reading put off by external events. with issues such as brexit, trade wars, and rising tensions and traditional issues can present risks. we are saying you have to accept those things, they are there, and our job is to continue to run the bank as efficiently as we can in then economy that is doing well -- in an economy that is doing well. therefore, we are able to manage that pretty well. we are also cognizant of the fact the risks exist and we have to have customers p

this is bloomberg. ♪ caroline: live from london, i'm caroline hyde.onnie: this is "bloomberg markets." asuge weekend -- a huge week leaders meet to discuss their policies this and the fact we are approaching the 10 year anniversary of the financial crisis. we are back with adam tooze, professor of history at columbia university. i want to read another quote. " whichhor of "crashed will be out on shelves next week. the translations will be out within the next six weeks. here is a quote. "in the 10 years since the crisis, the idea is the economy has moved beyond politics and play of international power has been exposed as a self-serving illusion. donald trump's must attack of the manifestation of the disillusionment and the one that matters most. with little respect for the market unless they deliver the outcome he likes." how would president trump have dealt with the crisis of 2008? question hank paulson was asked. i think it's a little unfair to trump. trump in fact in 2008 was an obama'sn advocate of policies and went on to defend the stimulus. the q

caroline: i am caroline hyde. vonnie: this is "bloomberg s.">> trump made a late-night proposal on trade. he calls on the u.s. and european union to drop all tariffs and barriers and subsidies but he doubts the eu will agree. today, the president meets with the commission. they're trying to head off a trade war. trump called new mexico's president elect and said that a successful negotiation for now after must be done quickly. if not, trump said he must go in different route that will be more profitable for the u.s. the wildfires in greece has risen to 74. the fire force thousands of residents to flee. and the architect of fiat chrysler's dramatic turnaround has died. he was 66 years old. took over in 2004 and spearheaded the purchase of chrysler. he was replaced as ceo over the weekend. declined suddenly because of convocation from shoulder surgery. global news, 24 hours a day. powered by our more than 2600 journalists and analysts, in more than 120 countries. this is bloomberg. vonnie: thank you. extensive taking an at his legacy in the next

this is bloomberg. ♪ caroline: i am caroline hyde.finishing the day in european trading on the downside up about .2% for this monday afternoon. worriedech off by 1.4% -- 1.4%. some key companies, sayed on the downside. utilities seeing a bit of pain. -- sage on the downside. miners also off, seeing metals and copper grade -- top or trade lower. a little bit of green, financials up .3%. last week was the best week for european banks since 2017. seeing green as we talk about normalization and the bank of japan coming as soon as tomorrow to its monetary policy and this week we have the u.s., the u.k., india, so much central-bank action to be had. i want to share you what is this dragged down food and beverages. we had earnings from heineken. who doesn't like a bit of beer? brazilians like it so much they are seeing rampant uptick in brazil and that means it is hitting margins. we saw the share price pummeled, as much as 3%, the worst today we are seeing for heineken all the way back three years ago. the reason is they had to guide down t

caroline: so tough. the passion from dani burger, i am going to hand it to the side of the atlantic. dani burger for today. applause all around. this is bloomberg. ♪ ♪ live from new york city, i am vonnie quinn. caroline: i am caroline hyde in london. this is "the european close." earnings season and trade tensions battle for the spotlight, but as far as alternative assets, auctions are looking up as wealthy investors put more money in the art market. thestie's jumped, helped by auction of the estate of david and peggy rockefeller. here.ful to have you you have 27% of all buyers that are brand new where are they coming from? guillaume: 40% are coming through asia and 40% through online sales. it says so much about the market today. caroline: in terms of tech and asia being a driving force. the number two market overall, picked u.k. to the post. how is it changing in terms of what you are currently selling in terms of the kind of art? guillaume: the art market 10 years ago was very much western things. it

caroline: from london, i'm caroline hyde. of that reports after the bell today, the second faang company to report. more, we will have bloomberg opinion columnist. let's talk about alphabet. to bembers are going interesting to pick through, particularly the recommendations. you think it will ease admits concerns about netflix? >> i think so. the market is expecting an expansion of the margin. there will be attention paid to the acquisition costs. there is awith gdpr good chance they've got more traction, they've gained market share. it is the cost at which that is coming. for the that the bill behavior and that is something they are going to foot this quarter. vonnie: what do we anticipate hearing about capex? i have a chart here which shows the rising level of capex to sales? it will be interesting to see how and where they are spending that. , chipsre investing more are the most expensive part of r&d. to ensure google is the browser of choice, they pay apple, we think a few billion a use safari, the default search engine is

caroline: thank you. a busy week ahead for european earnings, 12 companies in the sector will report, including skye, scarce trading lower -- shares trading lower today. next, we will check in with ian whittaker. this is bloomberg. ♪ vonnie: live from new york, i am vonnie quinn caroline: live from london, i am caroline hyde county you down to the european close. gives up the chase and thousand of its bidding war with disney for fox's assets and comcast will focus on the crown jewel, sky. u.k. broadcaster in for a big week as it reports earnings on thursday. just before a panel has the sky ruling on friday. fox shareholders will decide on the disney deal. ian whittaker is head of european research at liberum capital. sky, agreement or not agreement. fox's as its off but is this a signal where doubling down on sky, or therefore with disney and fox back away from sky? >> that is right. two signals that comcast is trying to send. disney, here is the deal, we will bid for michal krupinski at --sky. maybe we'l

and caroline coming of the latest business flash. caroline: i do.ime for that business flash, a look at some of the biggest stories in the news. posted second quarter results that beat estimates. drug rose 90% from a year ago. keep true to has become a core element of growth. and kkr among the private equity firms considering whether to buy young china. bloomberg has learned that they are talking to banks about financing the deal. yum china operates kfc restaurants and has a market value of almost $14 billion. the steve eisman has a several companies he is shorting now. in thea central figure movie "the big short. he's" short." tha is your business flasht. vonnie: speaking of shorting, we will be talking to karl some block of muddy waters in a little bit. and shares diving after a weaker earnings report. that is next. this is bloomberg. ♪ caroline: from london i'm , caroline hyde. vonnie: i'm vonnie quinn. this is "bloomberg markets." center features in focus, the dollar taking a small leg lower, but gdp at 4.1%, so what gives? us is us is -- joinin

this is bloomberg. ♪ caroline: live from london, i'm caroline hyde.onnie: this is "bloomberg markets." time for the bloomberg business flash. britain's talkr to the company is continuing. is -- pany part of a wider contest between comcast and disney for the bulk of murdoch's media empire. pfizer's we are organizing its business creating new major units within the company. they will also give more independence to the houses older established product. the move is not related plans to future split or any sale of businesses. that's a look at your latest bloomberg business flash. bloomberg users can interact with the chart we show drug the show. browse recent charts featured on bloomberg tv and much margaret this is bloomberg. ♪ caroline: this is "bloomberg markets." time, here is bloomberg's taylor riggs. gallo, heade is rj of the municipal bond investment group that federated investors. thanks for joining me. we haven't heard a whole lot from amazon about the location of the second headquarters since they narrowed down their list to a final 20. i wonder

caroline: live from bloomberg in london, i'm caroline hyde. this is bloomberg markets.e looking at the equity selloff. erik schatzker joins us with a former ceo of deutsche bank securities. >> that would be richard burner. arts also a martial master. i'd better be careful here. good morning to. it's a pleasure. you have $.5 billion under management split 50-50 between public and private. there's not much in the credit market that you don't see. market at or reaching the point where you call it overheated? >> that's a really good question. think about the positives for a second of why you want to invest in credit. there is no yield anywhere out there. even of the public market, you are getting in the sixes. the economy is good. portfolio companies are showing growth. micro, we think about her own business, you can look top-down or bottom-up. we have countries in every jurisdiction, things are relatively good. rates are low. interest expenses are robust. they have the ability to work their way out. those are the attributes. is, every single sign points toward run for the

caroline: what are you seeing? on the crypto? caroline: in terms of the bitcoin.t isn't centrally located out of one area or another. it comes from multiple different directions. but we are not talking about dramatically high volume. a team .5 million contracts today and we have a couple thousand it quinn contracts today. we are not trading a lot of these contracts. ours is larger so hours are much bigger contracts. the point is, we are not seeing huge -- regardless. that's ok. i think it'll take some time. but the flows are coming from different parts of the world. vonnie: the european union has planned for more oversight over -- particularly foreign ones. particularly post-brexit. give us the update on how you are dealing with that coming down the pipe? excellentanother question you are asking. i don't think a lot of people are asking that as it relates to the equivalent. we agreed with the european union two years ago on the equivalence of the regulatory regime and now they're going through some of the issues with her exit, they want to change the standards as

caroline? caroline: thank you very much, julie. turning to big oil. bp announced its biggest acquisition and almost two decades. taking up a oil and natural gas asset. earnings.ther oil of -- massivemac acquisitions and the market at the beginning thought they were overpaying. >> shares fell more than 2% at one point this morning. bp's argument about quite it is a good deal -- why it is a good talked about the expertise they have an personnel they have in north america who can increase production and time the production increased perfectly so they are not hit by the same pipeline problems. caroline: is this a sign of confidence, big oil back in flight, over the 2014 at 2016 price pressures? investors will make you pay if you do not perform well seeing that it is trading at a decent price? --narrative into earnings as is the bad times are over. rather than striving confidently, the company seems to be nursing wounds still. a negative reaction to a load of the earnings, exxon disappointing. yesterday it was shell and an italian company who did not meet

this is bloomberg. ♪ is bloomberg. ♪ caroline: i'm caroline hyde. tesla is putting foreign investment and the electric carmaker announced plans in china. the goal is to build 500,000 vehicles a year. >> i think they will be starting fresh with producing the model three. hopefully some learnings from that but also model why. the crossovery equivalent of the model three, so it will be a cheaper crossover price below the model x. it is important for them to have the look manufacturing in china in order to have the vehicles priced more competitively. would this be primarily for vehicles for sale in china or would this be a situation where the vehicles would be shipped back to the u.s. to meet u.s. production goals? >> tesla has talked about the possibility this could be used for other markets in asia but it the primarily be served for chinese market. it does not make a lot of sense for them to build their and export here are this is more about expanding globally and having a presence overseas and closer to the markets where they need to be, especially w

caroline. caroline: thanks so much. u.s.ing about while french national growth failed to accelerate. the gdp rose just point to %.rcent -- .2 president trump is optimistic about the data. here is what he said. >> gdp will be announced tomorrow. i do not know what they are, but i think they will be terrific. was reallyk over, it low and heading lower and was going to be there fast. caroline: terrific. still with us is stephen gallo. terrific? we are expecting around four percentage points. can they hold on? stephen: already, there are signs that would be deceleration. you brought me here to talk about fx, and so i will do that. the issue they have is the nature of the fiscal stimulus and the growth momentum that was already in trade is that it is coinciding with deterioration. so, what you need to sustain dollar strength is steady portfolio inflows. but as long as global growth does not fall off a cliff, of course, not our base case. our base case is that it will remain steady, despite the risks. there is a possibility the u.

from the this is bloomberg. ♪ caroline: i'm caroline hyde in london. vonnie quinn in new york. this is "bloomberg markets." caroline: checking in with first word news. here is kailey leinz. inley: the central bank turkey stunned investors by keeping interest rates unchanged, the first monetary policy decision since the president was reelected. he has battle with the central bank over his desire to keep borrowing costs low. protectionism weighing on the european economy. growth in the region has a softened this month on falling confidence. european company's reported rising prices for raw materials, delivery delays and shortages. that suggests the tariffs are starting to disrupt the supply chain. in china, financial markets rediscovering an appetite for risk. indexnchmark csi 300 capped its biggest gain in two years, rising 1.6%. markets taking cues from the government's biggest push to invigorate the slowing economy this year. and it looks like north korea has begun dismantling key facilities at its main satellite launch area. it would be a step toward

caroline: from bloomberg european headquarters in london, i'm caroline hyde.s finishing up the day in europe in trading in the red. down by about 2/10 of a percent on the stoxx 600. media dragging a slower as -- a slower. in oil and gas helping the ftse 100 in the u.k. in particular. oil is higher, and so is energy. and financials are down about 2.1%, despite some good early good numbers coming out -- fairly good numbers coming out. and the media sector, that was the bright a bit of red in the consumer discretionary part. down -- drowned dragged what dragged down debbie bbb -- wpb with it, --. this region's numbers not living up to expectation in terms of the second quarter. any analysts are thinking it was the analyst -- u.s. health care part of the business. notably, they are worried about the 2020 growth target. could that be pushed to one side next? a key concern. and meanwhile, iliad, one of your best performers. the swedish telecom company that disrupted france though much is now looking for new fodder in italy and it is working. they managed to lore in

we spoke with caroline hyde. caroline: they are concerned about the proposal at the moment.e very concerned that it sections out services in particular. 80% of all export from the tech sector in the united kingdom are services based. they are saying this is a lopsided deal. what theresa may's postal spells out is that you will have some out is thatspells you will have some sort of free trade arrangement in terms of goods that you are seeing imported and exported between the united kingdom and eu, but not services. and therefore it saying that we could see two separate regulatory environments, this is a necessary concerns for united kingdom based tech businesses, more headaches in terms of the regulatory environment that they will be facing. they have also laid out that there was not enough visibility yet in terms of people and their -- freedom of the movement of people. this has always been a key battle cry for the tech sector. "we are worried about talent." the u.k. government has been backing new ways of having entrepreneurs come into the country, but it is not enough, in

caroline: just extraordinary.n some ways, tech was involved because a lot of the arguments seem to come out via twitter, of course. trump's favorite mode of communication. he took to twitter ahead of nato saying the spending was not high enough, complaining about the trade deficits he has in the eu. the so-called tariffs and barriers to entry. he had such a twitter tirade that it sparked the other donald we have. the presidents of the european council hitting back saying the u.s. does not have and will not have a better ally than the e.u. he also has mike pompeo saying what a wonderful institution nato was on twitter. it is extraordinary. they even have the old secretary of state, john kelly, saying he has never seen anything so strange or counterproductive than what has been going on in terms of the president trump's reaction at nato. notably, really hitting aggressively at angela merkel's germany saying germany is too reliant on russian energy, russian gas. an unprecedented nato meeting. emily: was there any agr

caroline: there's your hint. i think she's saying, we are monitoring how google has responded to the previous fine and the previous desire to change the way in which they promote their own shopping websites over and above other competitors, and at the moment, we can't say whether they comply. this is availed through -- a veiled threat. you have to comply to this new area of concern, the android operating system. emily: google disagrees with this decision and says they will appeal. what exactly does google need to do now? caroline: google has already come out and not only do we see a lengthy blog post coming from the ceo of google, also trying to educate or try to put their point of view across in this statement, for example, saying that today's decision rejects the underlying business model that supports android, which has created more choice for everyone, not less. these numbers become far cheaper because the phone makers didn't have to invest in making operating systems of their own. they feel they benefited th

caroline? caroline: fascinating conversation.ind you that the treasury secretary steve mnuchin is testifying. remember he is in front of the house financial services committee today saying i that participating with talks for chuck -- in talks with china. bloomberg tv, time for futures in focus. oil remains near yesterday's close as u.s. stock aisles the estimates to increase output are not bringing crude below $70. cme. bring in scott at the what a brutal day it was yesterday for oil. currently looking in the markets today, we do see some reprieve, but wti is still lower. >> here'she oil going the thing right now, it's summer trading. we are seeing some of these happening on very light volume, really exacerbating some of the volatility that we're seeing in the spike up and selloff. right now i think oil is probably going to tread some water here, no pun intended. i think we will see west texas to 71probably in the 70 range. i think we got too much of a selloff. brent and we will see it in that 74 to 75 range. what i really see th

caroline: it seems to be. was speaking earlier with nigel evans, a brexiteer, part of the conservative party and he seemed pleased on how she conducted herself over a very turbulent toy for hours. it is not often you see -- 24 hours. it is not often that you see three of them go. boris johnson, the face of the brexit campaign. he has left, and it sent the pound tumbling this time yesterday. forshe has replacements in the inner cabinet and it seems as though nobody wants to take her place. they have not got the votes needed or recommendations needed to unseat her in the vote of no-confidence, so she will remain in control as prime minister paired nobody willing to take on -- minister. a nobody willing to take on her role, as a she only has months to iron out a deal with that european union. they have to get this compromise settled with the cabinet, now through parliament. and she has to work out how she will sell that to the rest of her government. mark: and if she still has not had a response from the european

caroline: there is your hint.s saying look, we have been monitoring how google has responded to the previous fine and the previous desire to change the way in which they promote their own shopping website over and above other competitors. and at the moment, we cannot say whether they comply. i think this is a veiled threat that google, we might start fining you on that respect. on that respect you have got to start complying to this new respect. the android operating system. emily: google disagrees with this decision and says they will appeal. what exactly does google need to do now? caroline: yeah, i think google has already come out and are going to see a lengthy blog pitch from the ceo, also really trying to educate or to put their point of view across in this statement for example saying, today's decision rejects , the underlying business model that supports android, which have created more choice for everyone, not less. we intend to appeal. this is really google trying to spell out that the mobile system they

it caroline wozniacki was the latest to 90, caroline wozniacki was the latest to go, level at one setnd four matchpoint. they all came and went. but after the world number two got it to 5-5, but after the world number two got it to 5—5, the russian regrouped superbly. this time the opportunity would not pass her by. five of the top eight women's seeds out before the third round. it was 5-5, i started thinking about those matchpoint and my serve. but i thought to myself, you're not going to lose this match because you have so to lose this match because you have so many matchpoint and i told to myself that and i forgot it and start over. another shock was alexandra dulgheru, who had the best of the opening set with venus williams, the romanian taking it 6-4. but williams, the romanian taking it 6—4. but from that moment on, the five—time champion was a different player, demolishing her. never in doubt. much like her sister, serena williams raced into the third round after despatching the qualifier in just over an hour. the seven time champion looking better with every match. the two tim

caroline: some say this is too little, too late.articularly with the shopping ruling made last year insuring other shopping search engines might get more prominence, that hasn't worked either. do we need to see a breakup of the monopoly to see competition? see the important to follow-up of the first google decision. we have taken no decision yet. we cannot say google is complying with the decision. that is an open question. we will do the same thing. we will monitor if google lives up to this position. this is the important thing. -- if googleo lives of to the decision it is going to work here and now. a centralrt with facility discussions or breaking accompanies it will take forever. what we need is competition here and now. caroline: what about the regulators question should the u.s. be doing more to encourage competition as you see it? have limited resources. we spend all of our resources to make sure european consumers can ,ave benefits of innovation prices, choice per at we don't spend much time considering what other people sh

emily: that was caroline hyde with matt hancock, u.k.f state for digital, culture, media and sport. and that does it for this edition of "best of bloomberg technology." we will bring you the latest in tech throughout the week. this week, we will get tesla's delivery numbers and this company's ongoing quest to turn a profit. tune in each day, bloomberg technology's live streaming on twitter. check us out. be sure to follow our global news network on tictoc on twitter. this is bloomberg. ♪ ♪ >> lowering some of trade tensions in china, saying it will not fire some of the first shots. beijing says they will wait to see what washington does. >> president trump renewed his attack on opec. he says the cartel is driving prices higher and prices must come down immediately. >> coal is king in australia. at $58e with total value billion australian over the next year. >>

caroline: you talk plenty of supply.e ever an issue that there's too much money coming to quickly? -- too quickly? are you fighting over the same businesses? >> i would say there isn't in europe yet. fortunately, the investments have been concentrated across the whole lifecycle of the businesses. so, you have a very lively pipeline of early-stage businesses that have been funded by early-stage investors, then there is early growth like ourselves. there is opportunity for later stage growth as well. selina: that was stan laurent, partner at highland europe, begin with bloomberg's caroline hyde. coming up, we have gotten complaints -- that's the assessment sheryl sandberg gave when asked about facebook's new at policy. we will discuss the bumpy rollout and what it means for advertising on the platform. ♪ in one tesla drivers of its biggest european markets are increasingly unhappy. they had the fourth highest number of complaints in the first half of the year. drivers have struggled to reach tesla's customer service. other

caroline: there is your hint. think she is saying look, we have been monitoring how google has responded to the previous fine and previous desire to change the way in which they promote their own shopping website over and above other competitors. at the moment, we cannot say comply.or not they i think this is a veiled threat that google, we will start finding on that respect. you have to start complying to this new respect. emily: google disagrees with this decision and says they will appeal. what do they need to do now? caroline: i think google has are reallye out and trying to educate our try to put their point of view across in the statement saying, today's decision rejects the underlying business model that supports android, which have created more choice for everyone, not less. we intend to appeal. this is really google trying to spell out that the mobile system they provide android is free. it is an open source free operating system. that has allowed mobile phones to increase in numbers, to become far cheape

caroline hyde joins us to discuss this.ou have been talking about the broader concerns here, how is the sector receiving this possible softer brexit news? there are concerned about the proposal at the moment, the fact that it sections out services in particular. 80% of all exports coming out of the tech sector in the united kingdom our services raced, and they are saying that it is a lopsided deal. what her proposal spells out is that you will have some sort of free trade arrangement in terms of goods the you are imported and exported between the united kingdom and eu, but not services. so they are saying that we could see two separate regulatory environments, unnecessary concerns for united kingdom businesses, more headaches in terms of the regulatory environment that they facing. >> they also laid out that there was not enough visibility yet in terms of people and their freedom. that has always been a key battle cry for the tech sector -- "we are worried about talent." the united kingdom has thought of a visa for entrepre

caroline: i think she was.he refrain herself from saying -- refrained herself from saying fake news but this is generally a woman who has plenty of criticism that she targets the u.s. successful tech companies. should -- some claim she does this to put europe on a fairer footing or push back the dominance of tech companies. and i asked her directly, are you expecting criticism from donald trump, she dodged that question trying to focus on similarities and the fact that they have shared views in terms of the customer comes first. what she is saying is that no, she does not in any way have an issue with dominance of google in the eu as long as they play by the rules. that is the key takeaway. she felt they have had illegal behavior and that is why they face limbs -- face this $5 million fine. are not herse personal feelings as to why she has gone off on google. she is saying this is because they broke the rules. i think she obviously anticipated political tension that this would antagonize donald trump. emily: ma

bloomberg's caroline hyde spoke with the u.k.'y of state for digital media and sport in london. mark: large technology companies from across the world not only are welcome here to invest, to expand their operations, but greatre doing so with pace. salesforce you mentioned, we have had major investment decisions from apple, google, ibm, amazon, a couple of weeks ago. further news from amazon. samsung opening their facility in cambridge. there is massive investment, i would say -- from 2016 to 2017 tech investment in the u.k., and we want to keep pushing it in that direction. caroline: what about the regulatory environment? because at some point, people leave the silicon valley -- specifically the silicon valley tech giants look at the e.u. and , worry will they be slapped with fines, they feel copyright law is going to tackle the right -- the likes of facebook and google? how much is your regulatory environment a blessing or curse? matt: we think there is an opportunity here, too. the u.k., traditionally, has a good track record of

caroline: we could also see a selloff. i'm looking at bitcoin in particular as the biggest crypto acid out there. 18% onurrently up about the week if you look at a gtb chart for that. it is one of the only ones holding on to its gains for the week. if you look at ethereum, there is a selloff to certain extent. there's a ripple coming back down off of the high we saw earlier in the week. volatility is likely to still be there. they are saying the current bull run may give way to a $5,000 downturn, but in the long term, we are heading higher. peter, what is the trading volume you are seeing in new account activity if you will? peter: i think you are seeing pretty slow retail markets. a big uptick in the institutional market. that is a lot of the reason my bitcoin is outperforming. institution cummi -- coming into the crypto market is going to perform well. a lot of that has to do with infrastructure you have to build to enable some of these institutions to come to the market. been adding new services. how are they working an

let's get to caroline conan, she knows a good coffee. good morning. caroline: good morning. am happy to be joined by the from paris.energy good morning. theresa may, the u.k. per minister has had a couple of difficult days on her brexit plan. do you think the eu should go easy on may for now? guest: i am not sure. i considered the present situation increasing the probability of not having an march 2019. next we tend to remain in the eu and there has been a referendum. but now in need clarity. we need clarity and [indiscernible] the freedoms are indivisible. theeed clarity and possibility of a hard exit is increasing. caroline: do you see the --dline should be expended extended, are you in favor of an extension? need clarity as soon as possible. the degree of authenticity in the eu as it appears today is too important. we see in the coming decisions of the institutions, they need clarity. see the divisions we have with them more and more. once we decide to transform -- transfer more people from london to the continent. caroline: we heard a lot of banks saying they might reloc

caroline: at the moment, not very likely. believed already coming from michel barnier, the key negotiator on behalf of the eu. he has been in new york and today thatnding out he does not like what the sound and smell of what is being proposed at the moment. at the moment, all we have is three pieces of paper coming from the united kingdom government. paper, -- we don't have the actual white paper which is some 200 pages, but the fact that the u.k. is sort of trying to cherry pick, wanting to have a free-trade agreement in terms of goods but not services. they are saying, look, that is not cool. if you want to opt in to our single market, i am afraid that you have to allow the free movement of people, capital, goods and services, and you cannot pick and choose. so it looks like michel barnier and the eu might push back quite hard, even though we have heard from businesses the likes of airbus, which has a big amount employees in the u.k., saying to go easy on the u.k. they are trying to extend an olive branch. but at the moment

emily: john rainey with caroline hyde earlier on bloomberg markets.mazon's second-quarter results, the company missed estimates on revenue and the revenue forecast. growth on web services are strong and they beat on earnings. amazon is keeping a lid on expenses while investing heavily on devices and new businesses, like selling groceries and prescription drugs. take a listen. had what i achieve needed to continue strength in our most profitable areas. 49% fx neutral growth. advertising also had strong growth. elsewhere, we saw probably better than expected efficiencies in operations. emily: that does it for this edition of bloomberg technology. on friday, we will break down twitter's results. can the company meet high expectations after turning around its performance this year? we will discuss. this is bloomberg. ♪ phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that

caroline hyde's spoke with the u.k. of state for media, culture, and sports. >> large technology companies from across the world are not only welcome here to invest and expand their operations, but they are doing so with great pace. salesforce, you mentioned. over the last two years, we have had major investments from apple , google, ibm, amazon. a couple of weeks ago, further news from amazon. samsung opening their facility in cambridge. there is massive investment. 2017 -- it doubled from 2016 to 2017. >> what about the regulatory environment? people look at the you -- we are getting slapped of fines and copyright law. how much do you think the u.k. regulatory environment is a blessing or a curse for some of these companies? >> we think there is an opportunity here too. the u.k. traditionally has gotten a good track record of writing regulation that gives us a framework within which people can operate but also it is very strongly pro-innovation. world leadings a example of having regulations because financial products

caroline: that's a great question. is saying the size of the fine was the great unknown, and maybe the key regulatory issues are in the back mirror. but $5 billion, put that to one side. i think it is interesting as to whether or not we will see alphabet-google having to start to bid for the real estate it might have to forgo if they don't manage to appeal successfully. they have got just over two months to put in their appeal to the e.u. and if they do have to change their model. if they can not automatically put google searches into an android device, maybe they will have to start to bid to win that real estate against the app makers. as many have been noting, they still have the deepest pockets around. $3 billion is net income they managed to make despite a $5 billion fine. overall, it's a company that can flash the cash to ensure that google search is where needs to be, and therefore, draw in the key advertisers. emily: earlier we spoke to bill , snead, an investor who is warning that participating in this tech eup

particularly for caroline wozniacki. third round earlier. well i'm joined now by former british numer one john lloyd. what a day? it has started to rain here, today. it hasjust what a day? it has started to rain here, today. it has just started to shower last after beautiful weather all week. you have been 0k, shower last after beautiful weather all week. you have been ok, no problems with flying ants? so far, so problems with flying ants? so far, so far. gets talked about caroline wozniacki. he really did think that that was possibly her year. not to be, though. she won the australian open. she finally got the grand slam off, where so many years, we thought she was going to win a grand slam, looked like she wasn't going to. she came through. she won eastbourne and looked so good, but jazz played well at eastbourne before, and then she came here. it did not seem the same player. i don't know why. she has won one grand slam. she looked uncomfortable today. especially when losing, she finds problems and complaints. she was

from indexks to mike ventures and bloomberg's caroline hyde.up, charging up and electric scooter. we speak to the ceo and cofounder. plus, tesla sets its sights on china, setting its sights on a factory in shanghai. how big of a bloke is it to trumps trade campaign? this is bloomberg. ♪ emily: grab is opening to other startups. the giant is transforming to transform into a super at, that covers everything from payments to food delivery. think we chat. they say it could push revenue beyond a billion dollars. electric scooter rentals startup line has announced a funding round which includes a partnership none other than uber . details have yet to be finalized, but they say they will promote them in their mobile app. the financing pledges of their valuation to $1.1 billion, but will it give the company an edge in the brewing to wheelchair for -- turf war? they will be our strategic partner. it will start as investing, and that we will deal with cobranded and will make our scooters available. emily: are we going to see the uber sign online? -- on l

caroline: international is a key focus.ome concern about the slowing growth rate, you're looking at 78%, but it has been slowing. how do you want to see it continue to protect -- to progress and how do you make it more revenue-generating? >> it had its best quarter for growth that we've ever had. customersore venmo than we ever had before. around $60e is billion of total payment by him that room 78% in the last order. there are few companies that have that amount of payment volume that are growing at that rate. to your point, one thing we are o.cused on is monetizing venm it is largely a peer-to-peer application where you might exchange money with a friend or someone in your network. what we are moving toward in the last part of last year is to allow our customers to actually shop at merchants. that is very appealing to merchants because of the social aspect of this platform. it's akin to free advertising for them. paypal ceo's the with our own caroline hyde earlier on bloomberg markets. amazon second-quarter results, the c

caroline davis, bbc news.e is on to develop the first flying car: aston martin has a prototype in development, and now a company called kitty hawk, which is owned by the founder of google larry page, has developed a version. it's taking pre—orders for its model — and our north america techonology reporter dave lee has been to see one in las vegas. so here it is, the kitty hawk flyer. i'm sitting in it right now. it's very very simple in here, just two controls — one for altitude, one for the direction of where this thing can go. around me you'll see there are ten propellers, ten motors that keep this thing in the air. essentially, i guess you could say it's just basically a big drone that a human being can fit in. right now, they limit the speed, to around six miles an hour. the battery life will keep it going for around 20 minutes. all of that will improve in time, they certainly make it go faster right now, butjust to be cautious they are keeping it around six miles an hour. in terms of when you can get one