caroline: and i'm caroline hyde. minutes with our market in just a moment.u can watch our stream on twitter. caroline: let's get to the market minutes now because it has been a volatile day to say the least. stocks are remaining pretty resilient in the face of these headline risks. the dow jones is off by 1/10 of 1%. attack is still continuing to offset some of the lows. nasdaq got a record high again. the russell 2000, it seems domestic waiting is outperforming -- weighting is outperforming. joe: let's take a look at government bonds looking at the two-year and tenure. a little steepening today. .wo-year is down to 2.63% there's a lot of concerns about the flattening curve. more selling in e.m. sovereign debt, the biggest he story for the week and one of the key things people watch when they get back after the long weekend. the brazilian tenure is up another set of basis points. caroline: contagion seems to be the watchword when it comes to the emerging markets. many feel it's time to find distinctions, but at the moment, they all get embroiled. the argenti

caroline: live from london, i and caroline hyde. welcome to bloomberg markets -- i am caroline hyde. welcome to bloomberg markets. stocks are lower as trade tensions between the u.s. and china heat up again. with, we have an interview bank of england governor mark carney when our from now, after the boe's decision to increase rates. first, abigail doolittle is here with. breaking economic data abigail: -- with breaking economic data. abigail: we are looking at factory orders. factory orders are up slightly from the month of may, up .4. an in my number, a little stronger than may, and not a lot of reaction for major averages. the dow down the most. renewed trade tensions weighing on investors, the uncertainty of what it could mean. if we look at the today chart of the dow jones industrial average, we will see this down daysays, the worst two since june coming off of the lows. investors are jittery. behind the declines, the worst factors for the s&p 500 are industrials and materials. if we look at dow dupont, freeport steel, we see th

caroline?re trying to tell me you actually started the day working at home and came in because of this data. kristine: exactly. caroline: for that reason i have got to go with her. what a drive to work and it has all been about cn why. you have got to pick it. vonnie: we have to go to the control room. they have decided matt is the winner over the battle of the charts. this is bloomberg. ♪ theie: it is time for bloomberg business flash, looking at the biggest stories in the news now. the parents of british airways hold second quarter -- quarter earnings of missed estimates. of air traffice control strike at exchange rates that reduced the value of u.k. sales. the shares fell the most [indiscernible] -- bookings are healthy on the north american routes which are lucrative. scotland the bank of has laid out a plan to pay off a dividend. of that.with the cfo >> it is a huge event for the bank. 2007 was the last time we paid a dividend. we need to sign the department of justice agreement with rbs t

caroline? caroline: thanks. an apple a day keeps the selloff the way?sal inecent tech, setting apple up to be the first trillion dollar company. third-quarter earnings beat estimates. the big surprise? iphone sales. they sold less than expected but a higher price tag, and that help revenue beat. joining us is a portfolio manager. i am looking at a chart of the average selling price of apple. you say this is the only interesting number in the report. >> i would not say it is the only interesting number, but it is the most interesting number. if we just look at what the expectations were, it was better than expected. if we compare it to last quarter, where the asp actually disappointed, so it was a nice bounce back and showed the high-end consumer, that is a dedicated apple customer, is willing to reach for a higher price points, but it just took a little bit longer than investors expected. caroline: are you turning bullish on the stock? are you liking the path we see carved into services, as well, the area of growth for the story? denny: i would characte

this is bloomberg. ♪ caroline: from london, i'm caroline hyde.nie: in new york, i'm vonnie quinn. caroline: time for the bloomberg exclusive. ceo seeswagen challenges coming. he spoke with bloomberg. timert: it is probably not for the consolidation. this is a hugely consolidated with abouto we are $10 million -- 10 million of cars and it the scale is getting smaller and probably more focused on the brand and customer. the big challenge for the next decade or so will be the technological change in the industry, the change with them becoming electric, autonomous cars becoming more relevant, and new business models, with new brands on the horizon either from china or from the united states. so those are the new challenges. and i would say that, first of all, we are coping with the challenges. >> there was a, from the eu competition commissioner that not all collaboration is collusion. would it it make sense for automakers to pull, for example, r&dtain are and the -- expenditures to not spend a lot of money on the same thing? herbert: we are doing th

this is bloomberg. ♪ caroline: live from london, i am caroline hyde.ive from new york, i am vonnie quinn. this is number markets. caroline: time for futures in focus. the fcc postpones decision on allowing bitcoin etf. bill, once again, this is throwing cold water on the bulls. bill: we are seeing the $6,000 level in bitcoin been bit. it has had it three times or four times and each time it has been left and enthusiastic. -- unenthusiastic. when you look at this when it started ripping in the half of last year, there is this support here and there, aligning with the. .f the high for hundreds at some point, if it keeps testing, it will break. id remains longer-term bullish, and the fcc has until the end of september to confirm or deny moving forward with a bitcoin etf. i do think they could do all things considered you will see something positive number this and i think the coin will have its they want -- bitcoin will have its they once again but how could you not be worried in the near term? caroline: remind this white fcc approval for an etf would be

caroline: live, i'm caroline hyde. scarlet: i'm scarlet fu. caroline: 30 mitts from the close of trading. stocks near session highs. posting the biggest weekly gains since march. scarlet: the question is would you miss? the fed chairman reinforcing the path of rate hikes in the speech at jackson hole. one voting fomc member will oppose a hike that would import -- invert the yield curve. and passing the buck on the california wildfires. companies are likely to find themselves footing the bill for the damage in years to come. >> passing powell. the federal reserve chairman gave his first keynote and use the chance to applaud one of his predecessors, alan greenspan. throughout the retreat bloomberg asked what they thought the ideal rate path would be. be moving toward neutral, three or four increases over the next 9-12 months. moving in september and december is consistent with that. >> i would rather not be calling rates accommodated right now. i think the structure of rate is lower. i think we are at neutral or close to neutral. >> the economy

caroline: i'm caroline hyde. lisa: i'm lisa lisa abramowicz. to "bloomberg markets." caroline: we are live at bloomberg world headquarters in new york over the next hour. here are the top stories we are covering. market momentum, u.s. stocks setting new records, as amazon and also that rise on a bullish bet from morgan stanley. dropsng out, dick's another quarter of weak sales, pointing the finger at under armour. martin,g public, aston best known for being james bond's car of choice, plans to sell shares in london. the markets close in two hours, let's check in on where we are closing. we have records. abigail: we have three, we of the major averages sharply higher, the dow modestly higher, and 1/10 of a.5%, percent for the index. the three major averages on pace for a fourth update in a row. and we have a rally on our hands, really helping the biotech index. take a look, up 4.9%, the state in almost a month. not entirely clear what is behind this. some analysts say the u.s.-mexico trade deal could be helping. we will take a look at this relat

caroline: thank you.e: ahead, a bad trade for bitcoin reminds traders of the risks in crypto exchanges. futures in focus, next. this is bloomberg. . vonnie: futures in focus. a call back questions about the risks of regulated venues. is this affecting volumes at all when you realize concern exchanges, you end up losing money for no fault of your own. >> there has not been a lot of .hange at the board of trade the headlines don't do a lot in favor of confidence for the crypto exchanges though among the different countries that offer them. it is risky enough as it is. trying to pick one out of a thousand crypto's and exchanges is like the king of risk. we like doing it here we have a regulated exchange, a safeguard behind us. we have been through these phases in bitcoin, we were in a bubble. we went from the enthusiasm stage, and now we are starting to find a near-term bottom. i think there is good value on a longer-term basis. we haven't seen the enthusiasm pick back up. if they can chew through the signif

from new york, this is bloomberg. ♪ caroline: live from london, i'm caroline hyde.: from new york, i'm julie hyman. this is "bloomberg markets." caroline: let's check in on the futures markets with teachers and focu -- futures in focus. let's bring in brine battle -- brian battle at the cme. we are at 7/10 of a cent almost. a haven of choice once again, brian? brian: that's exactly right. this turkey thing is more of a global policy thing than a market thing. to put this in context, turkey's economy is half the size of canada, the records the size of mexico, so it's not that big of an economy. if the cornerstone of europe and north africa and the middle east. it has more geopolitical import than anything else. you're exactly right. the dollar is rallying on turkey in the short term. longer-term, don't lose sight. looks like there try to slowly but surely devalue do you want -- the yuan and deconstruct the currency and china to make up for the tariffs that are imposed. all reasons to buy the dollar. caroline: because higher from here with a 96 but. spot. how high cou

caroline: this is why.ew sort of millennial focus on motorbikes, to a certain extent, who are they targeting? it is amazing how much of they will have to look abroad. so sleek and aok small compared to the bigger ones. so essentially, while in america the motorcycle sales are dwindling, they are growing in europe and asia, the people are riding different types of bikes and using them for different purposes. a lot of commuting, people in europe do some long-distance riding, but in the cities that are densely populated people need something to get around. so harley is now making those bikes. in the u.s., obviously young people do ride motorcycles, but a different type. there is an adventure bike that is really popular. they are available for on and off-road riding, and up until -- well, they are not on sale yet currently, harley does not make one. they have designed one and i think it will go on sale in 2020, but they had to really get in on this market. scarlet: they are a little bit late to that effort, bec

caroline? caroline: thank you. down in the oval office with an interview -- for an interview with editor-in-chief john micklethwait and jennifer jacobs. let's get to kevin cirilli, our chief washington correspondent. kevin, what struck out to me was how once again, he was talking trade, clearly top of my for him at the moment as they continue to negotiate in terms of nafta 2.0, but also about china and the eu. kevin: absolutely. the president is saying there is no deal in terms of this report that am european countries, including germany, wanted to back off the auto tariffs on this particular front of the trade negotiations. with nafta specifically, the president saying he found it easier to deal with mexico and not with canada, but it also comes reportedly at the agricultural sector in the states ises -- united pressuring the administration of potentially change course. we have not noticed much movement in the polls despite some centrist republicans making their case known, senator bob corker from tennessee going

caroline: i'm caroline hyde. markets." ♪ caroline: we are live in bloomberg world headquarters in new york over the next hour. you are the top stories we are covering on the bloomberg and around the world. a bloomberg exclusive. president trump wants to move ahead with a plan to impose tariffs of $200 billion worth of chinese imports. as soon as next week. are taking turmoil along with assets. weakness in emerging markets today. more concern about developing economies. we are one hour from close of trading. let's check in on the markets with abigail doolittle. we are turning lower. abigail: you are right. we are at session lows at this point. the s&p 500 and the nasdaq on pace for the worst day in about two weeks. slightly atarlier an all-time high but on the headline that president trump is to do back to hundred dollars -- back to hundred billion dollars with an tariffs, moving lower. we see modest declines. out, ae headline came sharply lower down 6/10 of 1% at session lows. it will be interesting to see how th

. ♪ caroline: live, i'm caroline hyde.carlet: we're 30 minutes from the close of trading in the u.s. the s&p 500 issuing a new high earlier in the session. joe: the question is what did you miss? scarlet: the bulls are on a record run. there is a catch. wider might be more to it than meets the eye. president trump's's former lawyer, michael cohen, agrees to plead guilty for making hush payments. he appears in a federal court in new york at 4:00 p.m. eastern time. and bringing callback is what president trump promised to do since his campaign days. little improvement. we want to take a moment to formally welcome caroline hyde to our new york office. she and her husband have moved to new york and we are pleased to have them in the new york family or just in time. caroline: i wanted more record highs in my life. it is what i needed. i got out of brexit, i have come here to your politics and finally, a real estate market that is on fire is what i really want to. clearly, that will be showing up later today. you got everything

caroline: u.s.e tax selloff and i want to look -- tax elements, and i want to look at the trade elements. our editor-in-chief said that -- was talkingng about the wto, but also on the china tariffs. peter: not good enough? lisa: he rejected it. peter: that fact that he would equate the problems the u.s. has would china than with europe, that is remarkable. europe has been a solid trading partner. china, there are legitimate problems. by equating them with each other, it makes it harder to have a united front and to get china to make changes. joe: is the wto in need of changes? peter: yeah. clearly. joe: this trump have a point? what is the most salient aspect of his point? peter: the resolution mexican -- the resolution point is slow. even when the u.s. is right it has trouble getting justice. there are ways to improve that that should be done, but have not been done. there was progress toward it, and it is harder to make progress on the issues now and the wto and all others hunkering down as if hur

he nasdaq caroline: i'm caroline hyde. joe: and i'm joe weisenthal. to the closing bell coverage through weekday from 4 p.m. to 5 p.m. eastern. caroline: we begin with market minutes. let's check in with the majors toause the nasdaq managed push slightly higher than s&p 500. aboutw jones is trading 26,000 which is another record. lisa: let's begin some of the specific movers. we've been talking about best buy all day. forecasted earnings for the third quarter where the guidance missed the lowest animist -- analyst estimates. amd, really interesting. it is down incredibly. day, and nearly $1 million of volume. alphabets, the parent company of google, down nearly 1%. this company in the crosshairs of president trump for its search rankings. joe: let's take a look at the u.s. bond market. not a ton of action, but retire again. we see the 10 year yield back up 2.6788 into year as up to -- is up to 2.67. caroline: yield went into the dollar overall which is why the selloff has been limited coming off of the lows. that is feeding into the canadian dollar. t

caroline: this is bloomberg. ♪ caroline: this is bloomberg markets. caroline hyde from london. , i'me: from new york vonnie quinn. caroline: we are seeing a turnaround in the stoxx 600. 500 pretty much flat as well. really this is a day where we try and look at tensions between turkey and the u.s. the turkish lira hit another record low. meanwhile also up against the russian ruble we are seeing the ruble at its weakest level in two years. sanctions on both those countries from the u.s. finding higher yields in a lower return environment. we will ask kkr's paula campbell roberts about it. this is bloomberg. ♪ vonnie: i'm vonnie quinn. i'm caroline hyde. this is bloomberg markets. vonnie: gross investment and social cohesion amid profound demographic and technological change. that's the subject of an important study by one of the leading global private equity firms. kelly andned by jason one of the authors of that study. >> that's right. i'm here with paula campbell roberts from kkr. this was a fascinating study in itt because of the fact that even exis

caroline: thanks.up, the nasdaq is on a six-day winning streak but can it beat high yields in the balance of the charts. we will find out next. ♪ caroline: it is time now for our global battle of the charts. you can see this on the bloomberg. kicking things off -- >> thanks. i'm taking a look at high yields. the market has been on fire yields keep dropping. we keep seeing inflows into the biggest etf but i want to focus on one quarter -- corner of the market. there is concern not admitting reading is as sanguine as it seems. this is the biggest etf hedging on those shares. basically, for every oldish option, they own more than five bearish ones, which is a pickup rate here, surging as of late. last time we saw this much hedging, you have to go more than a year ago. typically, when this occurs, it means traders are prepared preparing for a big hip so you better get ready. it continues to go up and you can see this on the bloomberg at she tv . >> i love the tension in that. thank you. see have on it

caroline: live from bloomberg world headquarters in new york, i'm caroline hyde. mins from the close of trading. s&p 500 on track for another record close. tech leading the gains today. joe: what'd you miss? caroline: holding out for the right deal. prime minister to do is trying to reach a trade a grim with the u.s. by the friday deadline but will not compromise on quality. amazon and out of that getting a big green light from morgan stanley. their target makes it the biggest bowl on the street. argentina's currency crisis taking a turn for the worse, afterng to a record low he asked the i have to speed up payments -- asked to speed up payments. officer said to be taking a leave of absence from the electric vehicle company. he has been working at the company since may 2017. she is going to leave. she declines to comment further. the chief officer taking a leave of absence after a year at the company. >> tesla has been known for turnover. that she woulda- taking a leave of absence. >> and the state of play. elon musk comes under more pressure. >> many are calling

caroline: we were just at 207, on the nose. how much tech takes over in terms of market capitalization. there arein extent, about four or five stocks that are so far away in terms of market cap compared to the rest of the market. there is only four or five above $500 billion. romaine: you are talking amazon, and apple.icrosoft, once you get past those names, it really starts to drop off. this is a reflection of where we've been in this market. the economy is largely tied to what is coming out of the tech sector, it is not only the consumer products that apple is so entrenched in, but think about the corporate products with regards to cloud services from amazon and alphabet. that is having a huge impact, which is why people are piling up on the stocks and we are seeing these market valuations go so high. crossedwe actually just the mark. high was reached, $5.55. the market is testing that number, and it clearly has a little bit of a goal in mind. above $1es and stays trillion, does that make it different? we are talking dollars

. ♪ caroline: from bloomberg world headquarters in new york, i'm caroline hyde.carlet: we are 30 minutes from the u.s. the five-day winning streak stalling with the fed and focus following 24 hours of legal drama for the president. joe: the western is what did you miss? caroline: the fed is ready to raise interest rates again if the economy stays on track. a strategic change in the pipeline for a company to hold off on you focus on acquisition of -- giant. and fan appeal wants to be the google of cannabis. a sizable cash pot. scarlet: the federal reserve releasing minutes from a policy meeting under scoring concerns for trade war and intentions for the rate hike path. jay powell, the fed chair, will deliver an address on friday at the central bank's annual policy symposium in wyoming. let's welcome the bloomberg opinion columnist dan. with regard to fed minutes, -- a all systems go for quarter-point in september, likely a quarter-point in december, possibly one more in january before they pause and take a breath and say where are we going vis-a-vis neutral? the a

caroline: market ahead of the fed. scarlet: who would have thought. caroline: thank you.e patching together their own safety net on health care coverage. spent many years on this and we will see how they are faring. this is bloomberg. ♪ caroline: "what'd you miss?" a growing number of americans are being priced out of traditional health care coverage. these consumers are searching for alternatives and making their own safety nets. bloomberg is spending the year following people who are going uninsured. what a fascinating story. it talks about the way they are using their own net positions that reject insurance and other religious ways of means. >> we talked to some families which are, instead of traditional insurance, is combining different approaches to getting health care outside of the insurance system. a family i spent time within , was idaho -- boise, idaho joining a doctor's practice directly where they hate a monthly fee directly to the doctor for all of their care care.aid -- they paid about $130 to start. instead of an insurance premium, this was a fee going dire

caroline: i am caroline hyde.kets." ♪ caroline: we're live over the next hour. canada's foreign minister plans for a trade d.c. deal with mexico. half $1 million bet -- is investing in uber is $72 billion evaluation -- valuation. triple threat. apple is launching free phones, new ones, and the iphone. now, it is one hour from the close of trading. and once again, a record high. >> the dow, the s&p 500, the nasdaq all solidly higher. it is tempted to think it has to do with the trade deal between the u.s. and mexico. in ais the second update row. in sectors last influenced by a trade deal between the u.s. and mexico, we see on friday, the nasdaq and nicely. once again, a big pop on the open up by -- in the last few days. one of the best few days since july. share,do with the fed stocks loving it. the dollar. over the last eight days, the worst stretch since late january for a variety of reasons including political uncertainty. a big decline, jay powell it had dovish. pushing up stocks. powell is also getting the ef

caroline: i'm caroline hyde. report. abigail: today we are taking a of the fourxly, one sectors higher for the s&p 500. on this board, we have another all-time high. the xly did put in another intraday record high. a lot of strength. up for a third day in a row. the biggest point boosted income amazon. at 6/10 of 1%. there is a story that they're looking for movies from sony and paramount. there is also a deal with sears holdings. those shares up 12.6%. they are expanding their tire partnership with amazon. dragging on the sector, the home-building sector, here is sector etf down 3/10 of 1% or the home-building sector. the numbers came in for june. that is weighing on some of these home-building shares. and the overall home-building etf. which is down more than a percent. the worst year since 2008. something to keep an eye on. if we hop into the bloomberg, take a look at the technicals on the xly, we see a beautiful uptrend with the xly being volatile on the year. nonetheless, recovering from that 50 day moving a

. >>> plus, in the zone, how caroline marx became one of the top professional surfers in just three short years, and she's only 16. >> even if i didn't get paid, i'll still surf every day. >> how this teen's career has turned into a family enterprise, but first, the "nightline" five. >> bye-bye. >> you good? >> yeah. >> alexa, turn it up. >> here's your reminder. laura says the teething ring is in the freezer. laura's scheduled a playdate for 3:00 p.m. i'm reminding you. y laura loves you, and you're doing a great job. laura loves you, and you're doing a great job. >> number o ♪ ♪ ♪ raindrops on roses and whiskers on kittens ♪ ♪ bright copper kettles and warm woolen mittens ♪ ♪ brown paper packages tied up with strings ♪ ♪ these are a few of my favorite things ♪ ♪ ♪ he could possibly... he likes to collect things. oh! wow, you got all this stuff from ikea? what do you like not let your kids in here? oh, no, they moved in here. here. this is where i hide all the cords and the remotes, and those clack-clack-clack things. oh and we have an entire comic book store and i managed to wedge a can

caroline: your part of facebook. company can be a driver of growth and a hindrance about privacy and data. what about the businesses you are talking to in making sure they are completely at ease with the product? julien: we have observed google cloud or amazon, how the company created a very successful side business. we are going to the same journey. we have to create our own brand and go through the possible security and privacy -- [indiscernible] banks, financial institutions, governments. it is a new force we are building. at the end of the day, it is one of the few companies in the world building its own infrastructure. so we have a lot of credibility as a tech company and we have to build credibility ready to serve companies in the world. caroline: i wish i could talk to you for longer. come back. emily? emily: caroline hyde for us and london. thank you so much for that interview. coming up, the great firewall of china. facebook and google want in, but at what cost? this is bloomberg. ♪ ♪ emily: another salvo ha

caroline: thyohavene now. caroline: go ahead. he ate a lot already on the way over here.obert: all right. i'm going to have--so these--my wife is filipino-- and so, she was telling me a little bit about this. . >>> a miracle. >> are you ordering the mueller investigation to be shutdown? >> our democracy is in the cross hairs. >> this fire is outrunning us. >>> good morning. welcome to sunday today. august 5th, i'm willie geist. president trump back at his new jersey golf club fresh off a campaign rally in ohio last night and gave his latest assessment of russian interference in american elections and handicapped the midterm you but did not mention one of james after the presidet went after james on

caroline, what do we know? in her blood. she has said what jeremy corbyn has said is unacceptable and her problem is she has been trolled quite ruthlessly by these hard—line has been trolled quite ruthlessly by these ha rd—line corba has been trolled quite ruthlessly by these hard—line corba nights we have been discussing. she's been drawn into this debate. —— corbynitess. eyesore on social media today, never have we seen a united opposition party more. they are falling apart on something that isn't connected with brexit and shouldn't even be the disgust. she may be the daughter of tony benneworth g is softer, more to the middle of the party —— tony bellew, she is softer. it shows the depth of what's going on. emily ben, like the majority of mps and a significant part of the party is opposed tojeremy significant part of the party is opposed to jeremy corbyn's leadership and is appalled she has seen him got into a scrap with the jewish community, saying that he knows better than they do about anti—semitism. thos

caroline: canada could be a party of one. insident trump says he was i new trade accord with mexico. elon musk takes a sharp left turn and wants to keep become a public less than three weeks after tweeting that something is to take it private. brazil's markets bracing. gaining in the polls but instead, a return for his party. what did you miss? the united states and mexico have reached a tentative deal to form a trade agreement. canada will join talks tomorrow. the canadian minister says freeland is flying to the p or for more, let's welcome our latin american reporter. we just had headlines talking about how the u.s. and met so's progress is a good thing according to canada. how's it -- how is it a good thing according to mexico? >> mexican negotiating team is ecstatic about the day. in will recall a year ago the process began, a lot of people thought it would be easy for the u.s. and canada to come to a deal and that mexico would be the difficult one. today, we have obviously seen a different outcome. the -- the teams very

she lost in straight sets to the sixth seed caroline garcia. gigi salmon was watching for us in new york. gigi, a huge disappointment for konta, but it was always going to be a tough ask? i think you're right. i think it a lwa ys i think you're right. i think it always was going to be. uni conte is the current number 46 best player in the current number 46 best player in the world. she is a former world numberfourand the world. she is a former world number four and harold mindset the world. she is a former world numberfour and harold mindset is one of positivity, always beats very positively about what is going to happen. she was up against number six to. coming into the us open, she withdrew from the warm—up tournament withdrew from the warm—up tournament with a viral illness and still said there was a little bit of a lingering. the big difference between the two, a very solid game plan for caroline garcia. it was an impressive start but garcia stuck to the game plan which was hit the ball hard. konta had no answer to what the french player wa

i'm caroline hyde. to jackson hole, guest gave us her tech -- take on the yield curve inversion. a case for raising interest rates is pretty compelling. we have an economy that is growing above trend area we have low unemployment and inflation at our goal of 2%. we have been trying to engineer and calibrate our policy path to the economy. this gradual increase in rates seems to be a compelling case right now. >> do you think the market gets that? >> the chairman will give his speech today and i think he's going to be talking about long-run issues and short run issues. i am looking forward to hearing his speech as well. >> in september do you think we can drop the accommodative statement and four were guidance? how wee thinking about want to change the statement. we look at the same in every time to make sure we are being transparent about our views on policy and give an indication of where policy is going. we're in a situation now where we are data dependent and we want to be as transparent, we also wan

emily: bloomberg's caroline hyde in london, giving us both sides. thanks so much, caroline.s said to be raising $400 million in a new funding round. the deal would value the san francisco-based startup at $7 billion. it last raised funds in september. we caught up with the ceo for an upcoming episode of "bloomberg's studio 1.0" and asked about the current availability of capital in these markets. >> a lot of vc's in the last three or four years, particularly the last two years, raised enormous funds and they need to find places to invest that. for companies like us, the enterprise software, sas businesses, it's as hot as it has ever been. emily: coming up, insurance startup lemonade has gotten a lot of attention this year after a high-profile investment from softbank. we will speak with the ceo next. this is bloomberg. ♪ emily: uber eats is rolling out a new policy with its fees. it will now be based on proximity to the restaurant. it was previously a flat charge. now fees will be cheaper for nearby restaurants. since its founding, insurance startup lemonade has grown dramat

caroline? >> sticking with the markets. coming up is the european close.has been a green day in europe. adding exactly the exam out of stocks coming in as we did on friday. dax being driven higher great only a stocks in the red for the dax. the cac 40 come all the four stocks in the red. everything else in the green. it is a risk on day as china pushes hard, their best day in two years the shanghai composite. >> it is 11:00 a.m. in new york, 4:00 p.m. in london, and 11:00 in hong kong. from bloomberg's european headquarters, i'm caroline hyde here it vonnie: from new york, i am vonnie quinn. this is the european close on bloomberg markets. ♪ caroline: here are top stories. today, relentless competition is keeping a longtime turnaround out of reach. the u.k. premised her theresa may is looking to delay the deadline for the brexit deal and hoping to use president trump as a secret weapon in the talks with the eu. stocks move higher but in turkey, 10 year yield come a record 20%, raising the possibility the company could be headed toward a bailout. despite th

caroline, more losers than winners?nt of cutting is to stop inflation from running away with us, which obviously have a negative impact because it pushes up prices. we have to remember that's basically the reason they're doing this. i sort of agree with what lance is saying there, it interesting they ta ke saying there, it interesting they take attack here that this is potentially bad news for savers but actually it's really bad news for mortgages for people on a low income —— they mortgages for people on a low income — — they have mortgages for people on a low income —— they have taken the attack. when i first bought a house when i was 21, and they were going up every month, i was on a paltry £7 a year, young journalist's salary, it really did make a difference. it was really quite dicey whether i was going to be able to get to the end of the month with any money in my bank account. it will really affect people. if there were more rate rises, and throw into that the unpredictability about brexit and what it will look l

caroline: it could go one of two ways.lly feel the law is on mueller's side, which i think he feels he could win this. this would get to the supreme court, obviously. this issue of testimony before the grand jury has not specifically been before the supreme court. we had the nixon presidents, that that was a subpoena for documents and tapes, and there is every indication that that was an 8-0 decision. the president is not above the law that you should be able to turn over documents from the grand jury, so i would extrapolate and say they would vote to make president trump suit for an interview. sherry: if the subpoena goes through, how does this bode for the president to testify before a grand jury without the presence of his lawyers? caroline: you hit the key points, which is that it is no secret that president trump has a unique relationship with the truth. that he needs sometimes counseling to be reined in by attorneys. i think it would be, if they do an interview, good to do an interview voluntarily. clinton way back w

caroline: certainly not. microsoftmind to which hit the $500 million mark, then had four successive years of downward trajectory -- the $500 billion mark, then had four successive years of downward trajectory. you mentioned petrochina. it fell off its perch as well. it doesn't always spell glory. what should be taken into account when it comes to apple is not only is it head of the pack when it comes to the other, billion, of $500 companies, but also its price to earnings is still pretty darn reasonable. it is the lowest of those four pillar tech companies. it trades at about 18 times future earnings. when you compare that to amazon, nipping at its heels, it trades at more than 100 times future earnings. this is a company raking in $250 billion in revenue every cigar year. it makes money -- every single year. it makes money. der its valuations are so high. emily: is there any risk that apple hits this mark and falls back down? no immediate risk. that always concerns me and i can't identify an immediate term r

caroline: lucky number. [laughter] emily: caroline hyde a number. thank you -- in london.ou for crunching the numbers. up next, electronic voting versus a paper trail. how can we safeguard elections from malicious actors? we will discuss. this is bloomberg. ♪ emily: the 20 u.s. midterms are just a few months away, and u.s. intelligence services continue to issue warnings about possible russian meddling. >> they have stepped up their game big-time in 2016. we have not seen that kind of robust effort from them so far. as i mentioned publicly a few weeks ago, we are only one keyboard click away from finding out something we haven't seen up to this point in time, but right now we have not seen that. emily: so what can be done to safeguard the elections? president trump has an old-school idea. >> one of the things we are learning, it is always good, it is old-fashioned, but it is always good to have a paper backup system of voting. it is called paper, not highly complex computers. paper. a lot of states are doing that. emily: paper ballots, something my next guest can agree wit

caroline: we have exposure to technology.ery good growth sector but the valuations are now starting to reflect that a little bit more. overrate, weech were trading at a discount and now it's trading as a premium and now we have right the tory and trade issues coming into the sector. it's ok as a part -- as part of a portfolio but it's not one of our key sectors. francine: we will be keeping a close eye on those xiaomi results when they come out. we will be back with analysts -- with thanos and caroline. how much more stressful be added to the ruble and how will the kremlin respond? the markets.ck to u.s. futures now down but european futures pretty much unchanged. dollar steady, this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to m

caroline: we thank you. scarlet: futures were down as a result.we want to give our big thanks to everyone. this is bloomberg. ♪ ♪ ♪ >> this is "bloomberg technology." i am emily chang in san francisco. we are halfway through the year and we have seen a number of tech companies hit the public market. sonos makingify, debuts. if the pace holds, the number of tech ipo's in the u.s. will have returned to levels not seen since 2013 and 2014. how will the rest of the year play out? joining us, our bloomberg ipo and tech reporter. spent the last several months trying to tackle this market. what has been so unique about the last six months? jackie: technology has been exceedingly active, and i know we have been waiting for this to come back. the last couple quarters have been exciting. we are definitely seeing technology companies themselves, and tech businesses in general really eager to get out. i think a lot of this is driven by the fact we have been in such a strong economic market now for a number of years. everybody wants to access this window. emil

. >> we are joined by jean-lu jean-luc carotti and caroline simmons. for me, the big takeaway from rbs is finally we're moving beyond that crisis era symbolic with this dividend, would you say? >> absolutely. i want to start with what i see on the street. up until six months ago, the main word was litigation now it's being substituted by the word innovation. i believe it's like a major change in the tone, major change in expectations of what banks are trying to do and results are showing good things revenue-wise, they're up, costs are under control. and provision for credit losses are down, which means the bottom line will benefit. >> i agree there is a change in tone, more optimism around innovation, at the same time there is caution around brexit speaking to the cfo at rbs, he said we are concerned about the growth impacts if brexit doesn't go the way the government wants to see it go is this a real concern are you seeing it in discount prices attributed to uk banking stocks >> i'd say that brexit is a major event, absolutely. i take a look at what h

caroline: this is the first major u.s. city we have seen install a cap on allowing new licenses for 12 months. uber says they are worried about the national attrition rate. how do we replace them? how does the limits of client? -- how does the limit supply? but others have said this helps monitor supply and demand and, in short, they were saying they can find an equilibrium so they are not underpaying people. this can become a precedent throughout the rest of the united states. they have had regulatory battles in the united states. and globally they have had regulatory issues in canada, in italy, in berlin. this is something we could see unfold around the rest of the world. they will have to subsidize the tri-cities and earnings of car drivers worldwide. how do they vindicate that evaluation? emily: how does this change things for uber and new yorkers? guest: i think we will see a drop in quality of right hail services in new york. i don't like stories that say that uber and lyft are the only contributors. they certainly p

andmore i bring in dan eyes caroline hyde in london. dan, i start with you. what are the challenges and upsides dan: there are definitely challenges in the macro or geopolitical issues we are seeing. you're releasing strength on the enterprise side in terms of areas like cloud and cybersecurity that have been robust. we continue to think they will be robust with avondale memorize -- with m&a on the horizon. there's a fork in the road with some strong fundamental trends on the enterprise and consumer side versus headwinds we have seen across some of the social media areas. emily: caroline, we see a broader selloff due to the risks in turkey, what some part of the tech sector underperformed even that. explain. coming saying is the bad news of chips came from your side of the atlantic in the u.s. we saw microchips have a bad set of numbers in tencent forecast, but it was on the back of the trade tensions concerns -- trade tensions concerns. concerns. we saw microchips fall the most since 2000. over here in europe we saw various down. chipmakers were 2.4%. u.s. t

caroline: certainly not. casting my mind back to microsoft, a key tech player, hitback in 1999 that half trillion dollar mark and while it had four successive years of downward trajectory, it languished at the number 300 in terms of market capitalization. it does not always spell this will be a winning streak for the company. you mentioned petrochina. because oil prices crashed, it fell off its perch as well. so it does not always spell glory, but what is going to be taken into account with apple is not only is it ahead of the pack when it comes to the other in excess of half $1 trillion companies, it is about $100 billion worth more than amazon and well ahead of microsoft and the like, but its price-to-earnings is pretty reasonable. it is the lowest of those he low-tech -- companies. it trades at about 18 times future earnings. compared to amazon, it trades at more than 100 times future earnings. this is a company that is already raking in a quarter trillion dollars in terms of revenue every single year and

our own caroline janney will be the next speaker. she is now the professor of american civil war and director of the institute for the civil war at the university of virginia. she was previously the history professor at purdue university. we are very glad to have her back in virginia. she is a specialist in the civil war era. and caroline is the author of burying the dead but not the past. she is also the author of "remembering the civil war: reunion and the limits of reconciliation" . she has also been selected for the history book club and military book club and has won the charles a snyder award that was given to her by the southern historical association and the jefferson davis association by the american civil war museum. in addition she has edited the petersburg appomattox. she is likewise co-edited with gary gallagher, the book on cold harbor and the creator and the end of the overland campaign. she has written essays on the civil war and its aftermath. caroline is a public speaker and has given many presentations and we are v

australian open champion caroline wozniacki eased into the second round with a straight sets win overtosur. wozniacki is the highest women's seed in the draw now and took the match 6—3, 6—2, with stosur making 33 unforced errors in total. wozniacki faces ukraine's lesia tsurenko next. iam i am feeling pretty good. didn't have the ideal lead up to the tournament, but i am feeling great right now and it was a good test today, obviously with the heat and playing sam, so i am pleased with how i am feeling and i am hoping, step—by—step, i can play better as the tournament progresses. wimbledon champion and fourth seed angelique kerber saw off russian margarita gasparyan 7—6, 6—3. she faces sweden's johanna larsson in the second round. two—time wimbledon champion petra kvitova is into round two, too, after beating belgium's yanina wick—myer 6—1, 6—4. kvitova won five games in a row from 4—1 down in the second. meanwhile, british number one johanna konta lost in the first round for the second successive year, as she was beaten 6—2, 6—2 by caroline garcia. the four times european champions aj

she had a shock victory over caroline garcia.ough 75-16, 6-2. -- 7-5,1-6, 6-2. the connecticut open is the final warmup event of the us open and in the other half of the draw russia's katarina makarova went down in straight sets, the five seat from germany won 6—4, 6—2. on to football and the scottish champions celtic were held to 1—all draw in the first leg of their europa league play—off against sudova in lithuania. celtic, who dropped out of the champions league after losing in the last qualifiying round, took the lead through their french midfielder 0livier ntcham after only three minutes. but less than ten minutes later the lithuanian side were level. 0vidijus verbickas with the equaliser. it means the tie is level ahead of next week's second leg, but celtic will be favourites to qualify for the group stage, which home advantage for the return match, and and away goal in the bag. elswhere, konsta ntinos fortounis scored twice as 0lympiakos beat burnley 3—1, steven gerrard maintained his unbeaten record as rangers manager as

with me are lance price, the political commentator, and caroline wheeler, deputy political editor ofrrow's front pages are already in. the increase in interest rates for only the second time in a decade leads the metro. it says the bank of england has warned there could be further "gradual" rate rises to come. the i also features the story, claiming the new rates signal the "end of the ultra—cheap credit age". the image on the front page of the financial times gives a good sense of apple's extraordinary surge in market value in recent years. today, it became the first trillion—dollar company. a times investigation has found that women with learning disabilities are being beaten and raped by abusers, allegedly granted visas by the home office. the daily telegraph says the new armed forces chief, nick carter, insists northern ireland veterans will be guarded against so—called "vexatious claims". a new crisis is gripping the nhs according to the daily express. it says that 6000 more gps are urgently needed, as patients are waiting up to three weeks to see a doctor. and the daily star ha