mark: what is up with daimler this morning? >> daimler, an opposite here. beating estimates.ive one. coming from strong demands from mercedes-benz vehicles. they are prioritying the larger vehicles that are less exposed to the chip shortage which is hurting their profit margins on the smaller vehicles. they plan to spin off the truck division later this week. over all a positive report from daimler today. anna: travel stocks. u.k. travel stocks. this around the in again, out again -- what's happening with the islands? >> it was put on the green list. now on the amber list. anyone that is not vaccinated and goes to the islands has to quarantine when they come back. it includes ibitha, mallorca. it is due to increasing case on those islands. probably due to the holiday parties taking place. negative all around. anna: the vacation roulette continues. it is an exciting summer prospect. thank you very much. a couple of things that joe might add to the list. video game makers could be in focus because of that netflix story early on how they are branching from films and tv to video

porsche, audi, as well as bmw and daimler. as legitimate discussions about technal specifications turned into market coordination that left consumers with fewer choices. >> they colluded illegally to restrict competition in the area of emissions cleaning technology for diesel cars. this is the first time that the commission finds that corporation on technical elements as opposed to price fixing or market sharing, for that matter, and that's -- behavior. >> bmw and volkswagen agreed to pay the fines. daimler escaped fines because they shared this with the eu. just as it tries moving forward towards an electric, greener future. the recent emissions scandals loom large, with litigation and critical cases still ongoing. worse than any fine is the added damage to reputation. brent: some sports news. in tennis, top women seed ashleigh barty is on her way to the wimbledon final after knocking out angelique kerber. she is one win away from emulating her idol. >> >> >> this is uncharted territory for ashleigh barty. she's never made it

previously, daimler had been pretty resistant, selling cars at a good pace despite the chip shortage, so clearly, that is starting to impact their sales number. they are seeing free cash flow below 2020 so that is there car unit sales forecasts being cut at daimler. coming up, we discuss the treasury rally which has -- we will get into the drivers in the bond market with the jp morgan fixed income cio. this is bloomberg. ♪ >> if you think 10,000 hours is what you need to master any subject, if someone comes in and has a regular eight hour job, five days a week, it will take about five years to have a baselevel mastery. on wall street, it's more like 12 hours a day, six days a week, and that could see you down to 2.5 years before you become mastered in something. dani: jp morgan's mary's speaking exclusively to bloomberg on getting into the office and working hard. we have seen in these markets, whether you have been working from home or at your desk, quite the roller coaster right thing over the last two days. check out the action in the 10 year yields. we started with a very dramatic

you had mercedes-benz maker daimler coming out and warning about those today, particularly for daimler it is semiconductors. on the flipside, you had asml, which makes machines that make high-end semiconductors, have record orders because chipmakers are trying to ensure themselves against future shortages. those shortages we are seeing could have a real headwind is the -- headwind into the second half even the earnings we have seen today. alix: abigail was much inning the reopening trade in the u.s. there are some signs that certain companies are surprising to the upside when it comes to reopening. what are you noticing? heather: definitely today is all about the reopening trade. the best exam of that today is next, the closing retailer. they raised their forecast -- the clothing retailer. they raised their forecast after pent-up demand, and that is helping lift other retailers. you are also seeing pubs really skyrocketing today, so some of that ties into the reflation trade and more optimism about people being able to go out. alix: thanks a lot. really appreciate it. earning beats are

a target to beat daimler.are quite committed that huawei will be given good valuations by the market. we will see the communications between the volvo team with the regulators and also potential investors. we don't have any pressure on the timeline. we believe we can move quite fast. >> could volvo make apple's car? >> i think it is up to them. new-car development ideas. >> including apple's car. >> i mean the new model, smart cars with all the best features of connectivity, automated drive. shared mobility. we want to provide the best user experience. >> have you or any of the team at geely had conversations with apple? >> no. >> but you would welcome that conversation? >> yes. for your information, we are open to partnerships with, you know, strategic industrial and internet leaders who form the strategic partnerships that you have seen. we have a partnership with baidu. we are very open to introduce this kind of partnership and business models with any potential strategic partner. >> tesla has faced a few h

jaguar land rover and daimler warning that the chip shortage will hit sales hard in the second half ofhe year. jlr flagging that its deliveries could be 50% lower than thought. officials at the ecb will sit down to dinner tonight in frankfurt as they kick off a week of intense discussions on the bank's first monetary policy review and -- review in two decades. we are seeing equities fading, down by 0.7%. we are seeing europe underperforming the u.s. in some respects, certainly underperforming the nasdaq. europe, the value trade. brent is down by 2.5%. keep an eye on the bond market. yields certainly on the move today. certainly not talking about inflation and the way that it was only a few weeks ago. that is being reflected in the numbers. taylor: a total global story, all of those things you just highlighted are playing out exactly within the u.s. tech is under pressure. you are off from record highs, but it is the relative outperformer to the s&p 500, which you mentioned. i wanted to highlight the vix because you were below a 15 last week. just highlighting a little bit of that tensi

let's go to the daimler share price. we are down on the daimler share price. company. it is down by 2.3%, to some extent weighing on the rest of the sector. they have cut their car sales outlook, once again, ships the issue -- chips the issue. julius baer saw a net income rise by 23% to 606 million francs. manus cranny has been speaking to the company's ceo. he started by asking him if there has been any slow down so far in the third quarter. >> we came into 2020 without a crystal ball. in our last conversation, we were also discussing about how is client activity evolving? the first half of 2021 in a sense has surprised us with all of the activity that has happened, with the continued very strong interest of clients in the market. we would apply the same -- going into 2021 that we apply in the second half. we have on the one side, record valuations, but we have also a record earnings season. we have macroeconomic factors, a diverging recovery curve now as many nations come out of the pandemic. i think there is plenty to go about with volatility, with client i

the margin really quite strong. 25.8%, to put that into context, daimler does half of that.really best in class and it comes to the numbers. the stock did not do much after the close, languished a bit, went up a bit. no real movement. as people digest the figures, there are a lot of good things to see. rishaad: one of the biggest surprises is the bombshell he will not take part on the earnings call anymore. that means he will not comment on the key challenges facing the company on those calls. what are they? benedict: that was one of the big surprises, why will elon no longer show up on the calls. he says only when he has big things to say, that is up to interpretation what he considers big. some more short-term challenges, the chip shortage that you played in that little clip is something rippling across the entire industry. he said that is an issue that makes planning harder and any forecast more difficult. he hopes they are over the hump on that front. we have rising commodities, that is another issue. rishaad: that is all we have time for. sorry for interrupting. coming

daimler's second-quarter earnings beat estimates. that is due to that global chip shortage.searched -- surged, beating the bloomberg estimate. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus? manus: thank you very much. you are very familiar with airbnb, how to book your vacation and your loft apartment in new york when you go there. it looks like softbank is delving into the south korean market. they are going to deploy to trillion won in south korea, into the south korean firm which is cloud-based booking and others for hotels, etc. a lump of cash going from southbank into south korea -- softbank into south korea. we will have more on that story very shortly. coming up, we spoke to another tech tighten, the microsoft ceo on the cloud offerings as cybersecurity threats are keeping him up at night. this is bloomberg. ♪ >> we will, and we are in the process of a generational shift. we have now done this entirety of generational shift. that means governance, th

earlier this week, mercedes parent daimler warned sales would be further curtailed by the global chipumber of people on twitter are threatening to boycott china because they are unhappy about a video the dutch posted on social media showing a group of senior citizens dancing in a club and ending with the message the night longs to the vaccinated. some call the video propaganda. heineken says the ad is all about supporting bars and restaurants. that is latest business flash. guy? guy: they look like they're having fun. g20 finance ministers are sounding confident they can reach an agreement on a global been among corporate tax. bloomberg's maria tadeo is in venice into standing by with another great interview. maria? maria: let's go straight with our guest, the mexican finance minister arturo herrera. good morning. min. herrera: good morning in mexico, good afternoon in venice. maria: we are hoping to get this deal on the range but also being able to tax companies in places where they make their money. how confident are you we get the deal? min. herrera: very confident. last year and t

daimler avoided a fine to be the first to tell the eu about the cartel.ore than half of hospitality workers will not go back to their job and more than a third are considering not reentering the industry. the survey underscores the hiring challenges for restaurants, bars and hotels. global news 24 hours a day, on-air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am right ago grouped up. -- i am ritika gupta. this is bloomberg. ♪ ♪ >> i happen to believe that there will be a movement ahead in capex. we think there will be an infrastructure bill of some sort. where not privy to the negotiations in congress. we think there is a desperate need for spending on infrastructure, but there is also a need for private engagement in capex. jonathan: nice to catch up with abby joseph cohen. from new york city this morning, good morning. alongside tom keene, i am jonathan ferro, together with romaine bostick. equity futures down 62. this bond market is firm, particularly over the last couple of weeks. yi

jaguar land rover and daimler warning that the chip shortage will hit sales hard in the second half ofing that its deliveries could be 50% lower than thought. officials at the ecb will sit down to dinner tonight in frankfurt as they kick off a week of intense discussions on the bank's first monetary policy review and --

concerned xetra dax up about 2/3 of a percentage point we have had a bunch of companies report, namely daimler the auto company warning that the production will be the lower end of the second half of the year because of ongoing chip shortage supplies. a theme that has been picked up in many areas of the auto industry that is lagging in the xetra dax. in terms of overall sectors, every one of the sectors is trading in the green you can see the defenses are underperforming, up about .6, real estate. and travel, an amazing comeback. up 4 percentage points some of the hoteliers, intercontinental up 3% banks, cyclicals up 2 percentage points ubs yesterday up that's translating in terms of performance. retail a very strong part of the day. overall, frank, a lot of green on the board today in europe and quite a different sentiment from what we had on monday morning when it seemed like people are gripped from the emergence of this delta variant and what it can mean. >> what a difference it can make thank you for the report. >>> to some of the other top stories, bertha combs joins us with those good mo

luxury car parent daimler, stock is flat at the moment, slightly higher investing $47 billion to make start-up's -- inhale one start-up's fumes already. farraday few cher, fsie, after closing a spac deal with property solutions acquisition corp.. on this first day of trade, shares are moving higher with by three-quarters of a percent, so what does the future of elite electric vehicles look like? to ceo carston wrighting feld. you're talking to an investor audience that is watching and listening right now, and i'm going to guess they're going to ask how is this guy, who hasn't a had one car roll off the assembly line, going to beat mercedes benz in the luxury ev market? tell us. [laughter] >> okay. first of all, thanks for having me, liz. it's nice to meet you. this is a great day for us. the investment community to give us a billion dollars to start our business, we hit a very important milestone today, and within 12 months we are going to deliver the product you see right now, the first really ultra-luxury ev electric and connected car. now, our strategy is we are building a top, pre

i mentioned the chip shortage only because daimler did again because it could drag on longer than thought, maybe well into next year, maybe beyond that. expects to see mercedes sales impacted. not because there are not interested boyars but because it can't deliver the cars. is that a worry to you? >> this is the consumer area as well as the industrial, they have been hit a the hardest with the supply chain issues and backups, increased prices and costs they can't pass on to consumeers. when we look three to four quarters out it looks like it will be resolved. some industries easier to source materials, raw material and agricultural, those have played out and come up to almost normalcy and it certainly looks like on track within two quarters have these flushed out but again it will be dependent what other countries are doing, how they're handling the virus and whether they come back up to speed. it is concerning but looks like a temporary, three, six, nine months issue and the american consumer is pushing that full steam ahead. neil: you know, guys, i would like to get your take on this i

for parts shipments slowed down customers will see the significant price increases auto make other daimleressive in terms of producing semiconductor chips at a time we have a shortage sending prices higher, how would you assess the shortfall shortage right now. >> well we're having a classic swing of the postponed aluminum in semiconductors, we, of course, at my old company would have been jumping in aisles at that opportunity. it is has been worse on you automotive industry just hearing a little bit about cell phones if you look at tsmc breakdown i call 40, 48, 40% cell phones, 40%, are computers 38% internet of things 4% ought motif why would 4% sector of the economy get his he disproportionately early the way they bought chips don't carry stock carry an attitude and attitude is you will hold my inventory you will give it to me when i want, and that didn't work out for them except one carmaker toyota saw chip making process was over a quarter any demands like short term couldn't be met period. no matter what people -- had been -- all junk listening to the carmakers did it to themselves o