. >>> and investors nervously a wait janet yellen's testimony on capitol hill, and christine lagarde tells cnbc that the fed will not cause another taper tantrum. >> i think it has already learned from that experience both at the fed left avel and ad the world. the fed itself has measured exactly how to communicate >>> and oil markets trading solidly higher we're waiting keough pey opec d we'll be speaking to bob dudley in 30 minutes time >>> we're seeing almost solid wall of green this morning and this is despite the fact that markets are very much in wait and see mode waiting for yellen's testimony later today stoxx 600 already up over half a percent. across the board, up pretty high ftse and the cac up around 0.7%. xetra dax almost half a percent higher let's look at some sectors almost everything is in the green. it's really media the only laggard here spring in oil and gas not surprising that oil itself was up in yesterday's session and again in today's session tracking about a percent and a half higher. janet yellen is expected to field questions of interest rates today. the fe

so, that discussion will be on stage with christine lagarde later today at the imf conference, and i'll be sitting down with madam lagarde as well to talk about whether institutions are failing globally so be sure to tune in as we bring that conversation to you live on cnbc tomorrow. gemma, back to you in the studio >> karen, thank you very much for that best of luck for the conversation this afternoon. should be fascinating. we look forward to hearing it tomorrow. >>> now, switching tack. u.s. earnings season could see record returns, according to s&p capital iq the company expects growth to be led by energy, financials, and information technology energy earnings alone are expected to jump by 387% jpmorgan and wells fargo are expected to announce their earnings later this week well, i'm joined by peter rosenstrike, head of market strategy at swiss bank thank you for joining us >> thanks for having me. >> let's talk about what we expect out of the q-2 earnings season first of all, do you have such positive expectations? and second of all, is this yet factored into where stock prices are

the managing director, christine lagarde, said the move is a possibility because the imf wants to increaseerging markets that become more influential and get larger. it has been based in the us since it was established in 1945. being the first employee at skype can be an oppressive thing to have on a regimen. he has since gone on to become an adviser to the prime minister of estonia. he has also build up transfer, an on line remittance service which has built up remittance service which has built up more than $1.5 billion. what led him to his latest venture? it was during skype that i realised how banks are undeserving and overcharging customers for many services, including transferring. i realised it was a problem that needed to be fixed and i found a better way of doing it. i realised hundreds of millions of people around the world would benefit. big established names in this business include western union and moneygram. how do you compete? we are based on doing something great for customers. it is the reason people use it, because we are fast, low cost, and we are very easy to use on yo

. —— christine lagarde. and there was a suggestion they might have to move to beijing.er talk about not only the dollar but also the renmimbi renminbi as a reserve currency. here is one of those stories reported particularly in asia, china threatening india over bhutan‘s border disputes. one of those stories which first emerges and you think it will sort itself out and suddenly china is actually warning india it will defend its territory no matter what, at all cost. so this started with china starting to build a road in a strategically important pa rt a road in a strategically important part of the world. web bhutan, china and india all clashed together. it has been viewed by those in bhutan as an aggressive act and india is kind of weekly coming up to bhutan‘s defence. but it is a strategically important move by the chinese, and another example of the people's liberation army and the chinese government getting very, very assertive in terms of its foreign policy and military posture. whether oi’ policy and military posture. whether or not this turns into something more

as of monday, france's president can add christine lagarde to his list of admirers.ation has praised his reform plan, saying they can go a long way to tackling france's high unemployment and weak growth. what is macron actually committed to doing? he has pledged meeting eu deficit limit of 3% of gdp in 2017, a target the country has been missing for a decade. to do that he wants to slash 4.5 billion euros off government spending this year. macron also wants to make france more attractive to investors by reducing corporate taxes and liberalizing the labor market. the plants may have boosted macron's image abroad with the cutbacks will be a far tougher sell to those at home. javier: it is probably one of the marked brands in you world. they are -- the russian market leader almost went bankrupt in 2011 and is still in crisis mode. job cuts could now leave 8000 without work. reporter: they are taking a break while they still can. rumors are spreading that 8000 jobs will become. 10,000 have already gone in the past few years. that did little to put the firm back on solid

christine lagarde, the boss of the international monetary fund, one of the big financial organisationsich starts today, that the brits but we have seen will not continue to boost us job figures, which were strong in the start of this year. will they continue, given that president trump has something to crow about when all else has been going badly? the us labour market is still growing strongly. some would say that was faxed to president obama and nothing to do with president trump's rain so far. some might say! we will take you through the papers later. still to come... pay as you go. we'll be getting the inside track on the chinese digital payment giant alipay. the ceo will be joining us later. you're with business live from bbc news. a lot of businesses are worried about where the entrepreneurs of tomorrow are going to come from. ben thompson is with a group of young people who might be able to allay their fears. welcome to the south bank. we are here in central london. 20,000 stu d e nts here in central london. 20,000 students have taken part in the young enterprise scheme, whittle

nonetheless, christine lagarde, going to her board and saying i think we should make this commitmentountries. let us know when they hand it over. now it is time for the next in our series of million—dollar ideas. now we look at the family favourite, the frisbee. summer is here! get to the beach! queue the sun and the frisbee! who came up with the idea? 1938... walter morrison and his wife were on a beach in california, tossing a metal cake pan to and fro. people offered to buy it for five times more than they paid for it in the shop. easy money. guess what? was made into business. after the war, he made better flying made into business. after the war, he made betterflying versions made into business. after the war, he made better flying versions out of plastic and sold the design to the toy company wham—0. they called it the... well, the boss had heard about students who had tossed around empty pie trays from the frisbee baking company. so he took the name, changed the i 4—iron e and the brand was born. they got it involved in sports like frisbee golf. the world record throw was 338

have been put in that seat for a lot of people it seemed inappropriate she was laughing with christine lagardewhat do you make of us well so my first and my wife mentioned it to be in my first reaction was a viscerally that's totally not appropriate i mean i've been in these positions as like number two guy to a senator or to a cabinet member and as a staffer you would never you know put your still in there and and go go into it and so i don't think it's appropriate but that said she is a senior advisor to the president she certainly says smart i hope she's a calming influence but look we're in a different day with this administration you know they operate more like the family i mean like the brady bunch last and no different family the boss and the done and the consider larry's are you troubled about the godfather i'm talking about it all of us remember remember it analyze this village billy crystal he says to robert de niro you don't hear the word no much do you. and robert. a lot usually it's no please no don't mr trump hadn't heard much now hearing that from congress increasingly as we go

. >> this is what the imf continues to -- christine lagarde puts these she put out a blog post yesterdayey need to tackle productivity, fiscal and monetary cord anything that. it seems like an increasingly politically polarized world. the focus will be on the geopolitical threats >> part of it is because we have no financial emergency now last year early in the year there was more focus on that >> the only time the g20 resulted in actions is when they all committed to spending a ton of money and that put a floor under the markets. otherwise a lot of xhun kaye co and photo-opes we are approaching the top of the hour, that means the start of "squawk box." joe kernen has more on what's coming up. >> becky is here, we will be talking about that a kindered spirit, the president is finding in poland not quite as infatuated with germany as our last president. and the globalist liberal stance of merkel on many issues it's like a hero's welcome it's interesting we'll have corker on i'm reading dan henninger's piece in the "journal" today, which is what i would have talked about that is the real s

north korea he also tweeted about trade imbalances and there has been a statement put out by christine lagardeof the imf, in which she says surplus and deficit countries should confront this problem now to avoid larger corrections down the road. the summit is a chance to strengthen the system and reaffirm our commitment for will enforce rules. traders on the mind of not only president trump but global leaders. david: take your. kevins bloomberg's cirilli. let's check in a first word news with mark crumpton. mark: the united nations security council holds an emergency meeting on north korea's launch of a intercontinental ballistic missile. secretary of state rex tillerson called the launch a new escalation of the threat to the united states. and south korean forces responded and testfired antimissile weapons into waters off south korea's east coast. president expressed frustration with china before heading off to a trip to europe. mr. trump tweeted trade between china and north korea grew almost 40% in the first quarter, so much for china working with us, but we had to give it a try. heavy rain

on the economy when the central bank releases its monthly beige book report at 2:00 p.m >>> christine lagarde doesn't agree with some xhechbcomments yellen made. >> i wouldn't exclude that there may one day be another crisis. where it will come from, what form it takes, how international and broad based it will be is to be seen. and typically the crisis never comes from where we expect it. so our duty and certainly the message that we give to the finance ministers, to the policymakers is be prepared. make sure that your financial sector is under good supervision, that it's well regulated, that the institutions are rock solid and anticipate with enough buffers so that you can resist the potential crisis >> lagarde suggesting a crisis usually comes when you least expect it. moving on, the deals are done. amazon prime day wrapped up about two hours ago gee. let's get to courtney reagan with some of the numbers >>gee. let's get to courtney reagan with some of the numbers >>ee let's get to courtney reagan with some of the numbers >> let's get to courtney reagan with some of the numbers >> let's ge

but just looking at that room this morning as i'm looking at world leader, angela merkel and christine lagarde and manuel macron, i'm going to take a wild guess here, they ain't talking about john podesta. >> no, they're not. what's interesting is going back to again his actions, what he's actually -- >> okay but why isn't -- >> a couple tweets? >> hold on. if those actions are so legitimate and if they're so strong, why isn't the president underscoring them? why is he -- >> but i would like that he would. >> i'm so glad you would like that. why do you think -- >> well, again, i've looked at a breakdown of his tweets in the month of june. 88% of his tweets i liked because he was talking about what the administration was doing, all the good things going on. >> the majority of his tweets have been attacking the media. >> that's not true. about 120 of his 160 tweets dealt with his administration, what he was doing, about 20, 30 tweets dealt with the media. the percentage of -- again, we want to focus on a couple tweets, the majority were about what his administration is accomplishing. >> just so

imf managing director christine lagarde told cnbc she would not rule out another financial crisis >>ouldn't exclude that there may one day be another crisis where it will come from, what form it takes, how international and broad-based it will be, is to be seen and typically, the crisis never comes from where we expect it. so certainly the message that we give to the finance ministers, to the policymakers, is be prepared make sure that your financial sector is under good supervision, that it's well regulated. that the institutions are rock solid. and anticipate at home so that you can resist the financial crisis >> and i believe that question came in response to a question about janet yellen saying that she didn't think there would be a crisis in her lifetime uber said that its scandals have not been weighing on its business on a conference call with investors, the ride sharing company reportedly said it expected improved bookings, narrower losses and a possible settlement with alphabet's self-driving car unit waymo. this according to bloomberg. >> some stocks to watch. twitter is hi

. >>> two weeks ago it was said another financial crisis was not likely in our lifetime, but christine lagardeiffer. >> i wouldn't exclude that there may one day be another crisis. where it will come from, what form it takes, how international and broad-based it will be is to be seen. and typically the crisis never comes from where we expect it. so our duty and the message we give to the finance ministers, to the policy makers is be prepared make sure that your financial sector is under good supervision, that it's well regulated, that the institutions are rock solid, and anticipate at home with enough buffers so that you can resist the potential crisis. >> there's a good chance she'll be asked about -- yellen will be asked about that as we see, the dow hit a record high. >> yeah. the stocks that are moving are the ones that were held back, home depot being the primary i think people didn't want to buy retail until after the amazon primeday. they're going back in terms of their actual business, there was nothing i saw -- and i perused amazon primeday constantly -- that would hurt home depot. th

. >> christine lagarde this is a new theater as you mentioned, eamon, built at cost of $200 million and i bet the acoustics are great in there i wish i could hear what they're saying right now drfr talking with macron. >> said to be fabulous, michelle it is said to be a fabulous facility and also told that this facility is focus of the ire of the protesters that we have seen out in the streets they feel they spent too much money on the facility and they feel it's sort of a focal point for the globalist capitalist elite and in the streets here today. >> to your point, the number i just quoted was the original price tag. it went over budget to $243 million. way overbudget >> these things tend to do this. >> i don't want to put you on the spot here, buddy do we have any idea how locations are selected and why hamburg was selected if you're going through a list of cities where you probably don't want to have this kind of meeting, i would imagine hamburg's at the top not because it's not a nice place but to your point, eamon, a sort of capital in germany of sort of a resistance, anti-capital

not technically being in the 620, the african union, the world trade organisation, ijust saw christine lagardere targets in the paris accord there is a commitment to every country measuring its emissions every five years and i commitment to climate finance, which countries providing support to developing countries so they can ta ke developing countries so they can take on changes that will aid effo rts take on changes that will aid efforts to take on climate change while not suffering financially, so a number of commitments but america will not eat taking those each has its pulling out of the paris agreement. emmanuel macron, donald trump and angela merkel deep in conversation. we remember that handshake when mr macron and mr trump metand handshake when mr macron and mr trump met and it was a test of strength, mr macron even acknowledged he wanted to go in show with he was content to look donald trump in the eye and assert french policy in the face of american disagreement, so fascinating to see these leaders come together. we will watch what they say. not all of it will be available for us to

looking at the pictures, we've seen donald trump being counseled by the treasury secretary and christine lagardeaders, richard. >> and david's quote is exactly right. the problem is that mr. trump confuses keeping others uncertain and off balance which can be useful sometimes with your foes. it's almost never useful with your partners and friends. they need certainty and predictability. >> richard, the reason why donald trump doesn't understand the concept of partners and friends, and i'm not saying this being snide, but rudy giuliani himself in the middle of the campaign before he was endorsing donald trump and before he was -- when he was afraid to say that he would support donald trump, told us onset he'd never seen anybody ever walk into every meeting saying there's one winner and everybody else is a loser. i have to be that winner. unlike a lot of other business people, unlike even a lot of other realtors in the city and across the country, across the world, donald trump has no allies. it was donald trump against the world, which is why he is unsuited to understand the importance of buildin