dani: ok.that mean that you would not change your positioning on big tech if they are affected by this? wouter: no. we are not. our view is that we are more value when -- value oriented on growth. it is more positioned on the current valuation where we think that the cyclical and value side of things has more perspective given the recovery that's ongoing. that's the bigger story for us here now. not the tech side of things. dani: thank you so much for spending your friday morning with us. really appreciate it. that's wouter sturkenboom. coming up, credit suisse extends its wealth management bankers as the industry competes to keep staff through the pandemic. banks are doing more to retain talent. we bring you the details next. this is bloomberg. ♪ ♪ >> what we have decided to do is be in the office tuesday, wednesday, thursday and work remotely on mondays and friday. that will be up and down. we think this combination is the most attractive. that the best of both worlds. >> we think this is gre

dani?n those economic impacts, what sort of fiscal policy response should there be, if any? mike: well, i think this is a wake-up call to free up the economy a lot more and for state owned enterprises to be privatized, i think. and on the other end, i think the response is going to have to include a way that we include more people in the economy. south africa's major problem that we have is unemployment. that is the cause of poverty, 42.6% of the adult population is unemployed. and in fact, if we look at it the other way around, last year, about 35.5% of adult populationw was employed. the difference is people that were students, housewives, and the like. you've got a large bottom of people that have no income. although the looting, in many cases, were richer people with cars and some. but the point of the matter is, we need to solve the unemployment problem, which will solve their poverty and inequality problem. so our focus should be, how do we get south africa to grow? had to be get peop

dani: good morning from bloomberg's european headquarters. i'm dani burger. "bloomberg daybreak: europe." here are today's top stories. relation bet our amid some hawkish noises from the fed. officials signaled tapering could come sooner than expected. going symmetrical. bloomberg learns the ecb plans to raise its inflation target to 2%. that allows room to overshoot when needed. the euro looking for direction. more olympic uncertainty. japanese media reports events in tokyo may have to take place without spectators. global pandemic deaths top 4 million. good morning, everyone. happy thursday to you. it is the day after a victory when it comes to english football. some people not feeling their best or most awake this morning, but the markets are certainly awake. are we seeing more hawkish tilt from the fed? is it business as usual? our last guest says it's not that hawkish when we are seeing 10-year gilts hold on to those lower movements we've seen over the past two days. still below 1.31%. intensifying the chinese bonds with the rrr possibly cut. at the same

dani: u.k.me minister boris johnson speaking from self-isolation as england lifted most coronavirus restrictions. the state department issued a do not travel statement. even fully vaccinated travellers are at the risk of contrasting and spreading variants. let's get more from rachel chang. rachel, what are we seeing in the u.k. right now, how bad is the situation that the c.d.c. thought it had to issue this alert? rachel: if we look at cases, the u.k. is reporting the most number of new cases in the world, 50,000 cases a day, goes numbers are pretty shocking. it's understandable why the u.s. looked at those numbers and said this is a scary situation. but at the same time, what's really interesting about the u.c. situation is that vaccination has reached a very high level, we're seeing fatalities remain at a very low level. sunday, 25 people die, 25 people, it's still a tragedy, compare it to indonesia, same number of peaches. the vaccination has severed that link between infection and death. the

so there are concerned still about the overall jobs market, dani. dani: juliet, thank you so much.iette saly in singapore. still with us is maurice gravier. is the rba announcement today, they said recovery is stronger-than-expected. and will continue that way. what are the tailwinds economies are getting now, especially ones with more vaccinations, what is preventing these banks from tightening sooner? maurice: no bank once to be the first to tighten -- wants to be the first to tighten. you remove the support, even in the case of the rba, you don't want to derail your recovery, and you probably don't want to be the only want to do so. so everyone is watching everyone. correct me if i am wrong, but i think the rba had set conditions before hiking rates. we are not there yet. all the central banks care about their communication, not shocking the market, as they do about policy. they are trying to keep an open mind. manus: you are bang on the money which is that they want to see unemployment and wage growth of at least 3%. how comfortable are you with risk assets? you have a warning

dani? dani: thank you. coming up, we talk opec, where opec and allies resolve a that are internal dispute, pledging to restore millions of barrels of crude oil output to the energy market. more on that next. this is bloomberg. ♪ dani: welcome back to "bloomberg daybreak: europe." i am dani burger in london. oil has declined after opec and allies decided to boost production into 2022. the agreement between major producers for more baseline output avoids a shock for the economy and provides much-needed clarity from markets -- for markets. for more, we are joined by stephen. we have oil looking a little lower, down 9/10 of a percent. how generally would you categorize the market reaction to the new opec-plus packed? -- pact? stephen: overall, the reaction will be bearish. i think a lot of the market wasn't expecting they would be able to make this deal between the uae and saudi arabia. it is sooner than expected. they famously had broken down and were not able to make an august agreement. they will be adding 4

dani? dani: thank you so much.ng up, a gauge of china stocks in hong kong pulls back from a bear market, but investors continue to fear that crackdown from beijing on tech. we are going to have the details for you next. this is bloomberg. ♪ ♪ dani: welcome back, everyone. i am dani burger in london. turn to asia, where stocks have tumbled amid concerns over covid variants, and of course china's corporate crackdown. let's get more with juliette saly in singapore. some of the asian indexes it looked like are on the verge of correction. how ugly is it getting out there? juliette: yes, we have seen a bit of a reversal coming through in the hang seng china enterprises index, which briefly entered bear market territory in early trade after we've been seeing this big sell down coming through on china tech stocks. it has been down some 20% off its peak, but now seeing that index trying to reverse losses. there is this concern about covid variants and the impact of the overall global recovery wing into asian equities, which

viene oyarzÁbal, el centro para dani olmo ¡le pega dani olmo! ¡a fuera el remate de dani olmo!go para la mitad de la cancha quitÁndolo a pau torres. v la marca de ricardo rodrÍguez, ¡jordi alba, el centro va a ser pasado! salto a tiempo. la vuelve a atender espaÑa. crucial momento y se equivoca. no hay que perder posesiÓn. hristo: pero fÍjate el mÁs fÁcil hoy para espaÑa. a ver en el campo y buscaron uno contra uno, si tÚ tienes adama, es mÁs directo. todos los jugadores del campo son lentos con balÓn muchos toques y luego le permite que se defiendo mejor. josÉ: sow. me pareciÓ falta de jordi alba. el Árbitro dice "ah, ah" levÁntese y juegue. diego: no es que abandona la lÍnea de cuatro luis enrique pero pone a thiago a darle salida al equipo desde este sector. tirado en el lugar que era de azpilicueta. josÉ: juega por el lado izquierdo laporte. dani olmo se la regresa jordi alba. para allÁ dice busquets. el balÓn le llegÓ a thiago alcÁntara. [silbidos] oyarzÁbal decidiÓ ir con llorente que quiere pasar entre dos. busquets. ya se nos fueron 10 minutos del segundo tiempo extra.

dani burger and for guy johnson -- dani burger in for guy johnson.ing this all day, that it is able market that

dani? dani: thank you, annabelle. coming up, the white house officials discuss proposals for a digital trade deal covering indo pacific economies. more on that next. this is bloomberg. ♪ dani: it is "bloomberg daybreak: europe," i am dani burger in london alongside and is cranny in dubai. in china, exports unexpectedly surged in june, helping to underpin the economy amid signs the recovery is starting to slow. juliette saly joins us in singapore with more. a very big beat here, what are we seeing in the data? juliette: exactly, and this came even though we saw a surgeon coronavirus cases that delayed shipments at some ports in june, particularly in the southern part of china. when we look in dollar terms, export growth accelerated to 32 point 2 -- 32.2% in june, they were expecting a slowdown to 23%. imports also climbing 7%, beating the overall forecast. all of that leaving a trade surplus of 51.5 billion dollars for the month, the highest since january. a lot of analysts are saying you could see a slowdown in export

dani, it has been a real pleasure. dani: a selloff taking a bite out of near record gains.lix: it has been quite a month overall. the s&p is still looking at a monthly gain, but nonetheless, it is still rough going. today, off by 0.2%. the outperformer is those large cap tech names. a little bit of bid in the bond market. a little bit of a bid for the dollar as well. the bloomberg commodity spot index, overall you are looking at the dollar having its worst week since may. ipso facto, good for spot commodities. the spot commodity index the highest since 2011. that is more of an idiosyncratic story. dani: we are also getting some breaking numbers on the university of michigan sentiment survey. the interesting thing here is always to see what inflation expectations are. consumer sentiment coming in stronger-than-expected. their five-year inflation forecast is again of 2.4%, and 12 month inflation forecasts, 4.7%. definitely some tinges of higher inflation. earlier today, we saw u.s. personal spending strengthening in june. for more on that, we are joined by bloomberg's reade p

dani: exactly.will be interesting to see how that features in their earnings, and how the scandals feature. if anything, it might show up in terms of costs. it costs money to bring people on board, and they've had a lot of losses, so they need to attract more people and talent to come back into the fold. alix: i'm also interested in the trading revenue, particularly on the spac side because the spac issuance slowed down a little bit, and credit suisse is a leader in that. so how do they met it -- how do they manage the common nature at this point test the call -- the calmer major at this point? dani: they are making it easier to become a spac to get more spac's into this market. coming up, we speak with max kettner, hsbc asset strategist. probably doesn't have much to say about spac's at this point, but there's plenty more to watch, from delta to inflation. this is bloomberg. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with the 98% success rate and the more

dani: certainly.see this imposition constantly when you have big washouts in the bond market, that positioning is still short despite all of this. it is not seen like these extreme stretch positions have been washed out of the market yet. people are not prepared, it feels. manus: bank of america encapsulated it beautifully. it depends on whether you are an equity deplorer because of the low rates in the bond market. equities are struggling to understand where we are at the peak of a cyclical boom. we will see what jay powell says later today. the downside risk to inflation and high unemployment has receded. this is one of the bulwarks of monetary policy. the rbn along with the aussies are at the front end of monetary policy. what pressure does that bring? the dodo flies again. bonds showing disdain for the hottest rating on inflation since 1991 -- or do you lean into the breakevens? crude oil down, they are cutting the long position. let's talk about the bank earnings. we will get wells fargo, bank of

dani: good morning. it's not just central banks, it is a whole host of data, and all eyes will be on that, with the central banks changing window dressing, will the data flecked a different delta -- data reflect a different delta? will things start to slow down. economists are saying what we saw from china in cpi data bodes poorly for what we will get from the u.k., u.s. later this week. manus: i think you will see that awful word, i for occasion again. you have canada -- that awful word, bifurcation. you have canada and others. i think lagarde has reset the agenda. a transition to a new format, what will the guidance be on the new format and sequencing, that is the key. dani: if you are an investor, how do you adjust to that new format? a market set up for global growth has to reckon with this host of central-bank decisions we are about to get. manus: the markets this morning, how do they look? dani: a pretty strong rebound in asian equities. friday, when we missed you dearly, the market was disappointi

dani: right.ou know, that conflict within the ecb, it's natural that it would crop up anytime you start to have this emphasis on inflation yet again. what does it mean going forward here, if we continue to seek a german response that is that conflict with madam lagarde? derek: well, i think the net result is that perhaps in a year, 18 months time, we will look back and wonder, what is the ecb doing that is so fundamentally different to what they were doing before the monetary policy review? i go back to the conclusion probably being, it was more a reset to formalize what the ecb was already doing. you know, if you look at the time from the last review in 2003 until the great financial crisis, ultimately ecb hit its target or above target practically 100% of the time. since the great financial crisis, it has been 25% of the time. you ask a question, what more can the ecb do apart from keep doing what they're doing? it's very difficult to envisage. dani: thank you so much. you will stick around with

dani: it's interesting.side the barclays of the world. credit suisse. it's a very idiosyncratic issue happening there with getting hit with scandal after scandal. what will be the outlook for them? what are people hoping are waiting to hear from credit suisse? nabila: these are the earnings announcements that i'm excited about. that makes me a little bit sad. we are expecting to hear what's going on at credit suisse. since the last quarterly earnings, we've had more of these sockets play out. we had the archegos collapse. they lost $5 billion. we've also had greenfield which has not been good for the bank at all. we are expecting to hear a little bit more about the fallout from that. also, what these defections have meant for the banks. we know that at least 50 senior people have already left the bank. we need to see how that's expecting and whether that's affecting commodities just yet. dani: we will definitely pay attention to that. we will have you back onto expect -- inspected. that's it for bloomberg da

dani burger -- in new york. dani burger is in london. guy johnson is off again today. this is "bloomberg markets." dani: here in europe, you have unilever warning that earnings might look good, but cost pressures might crimp profits. alix: you can see that reflected in the s&p as well. take a look at the board here. the s&p is off area of the dow getting it the hardest. what you want to pay attention to is the 10 year real yield. do earnings even matter if the tenure real yield continues to grind lower? it is going to be hard to not want to invest in some of the growth companies. bitcoin also getting a little boost. goldman sachs asset management thinking about putting together some kind of fund there, so that is hoping that i set class. maybe a little risk on in the bitcoin world. the story to me, it is going to be equities. dani: it feels like deja vu. we certainly are getting u.s. data in u.s. july consumer confidence index coming in at 1.29.1 -- at 129.1, so that is higher than the last rating. let's get more with bloomberg's international policy and economics corr

dani: good morning. it has just gone 6:30 a.m. in london. i am dani burger alongside manus cranny.lant, jay powell says the fed is ready to take on action if prices get too hot. blackrock's larry fink and dave ramsey joined the choir. economic growth slows in line with forecasts as consumer spending sticks up. then, morgan stanley is next on the docket for big bank earnings. how will it stack up against its wall street rivals? good morning. yes, we did hear from jay powell. we get a second day of testimony today. there he sanguine on the inflation picture. a stark contrast from larry fink, who says epic changes on the way. manus: so epic that larry fink has offered an 8% pay rise. fink warns that you will have to do more on wages. if you look at the chart of wages, it is just turning up ever so slightly. it is very unlikely you get an 8% pay rise, they will take it off you next year. dani: jay powell did point to the end of some of the unemployment benefits. maybe that picks up the slack in the labor market. a lot of the unemployed are women. this does point to a gender gap, with w

dani: right, yes. exact. we will see what exactly the results of that ecb decision will be later in the year. frank, thank you so much for joining us. that is frank vang-jensen, bank president and group ceo. let's get over to the first word news with annabelle droulers. annabelle: hey. jamie dimon has been granted a payout to persuade him to stay for a significant number of years. the stock appreciation was an estimated $50 million according to one estimate. jamie dimon, who has been the ceo since 2005 would need to stay for another five years in order to capture a profit. bird learned the u.s. and germany are close to a deal on the gas pipeline. under the draft agreement, germany would take unspecified acts russia if it tries to use energy as a weapon against ukraine. it confirms the decision marks a concession from chancellor angela merkel. the exodus of senior bankers from credit suisse continuing with more than ready now having left the bank. another four executives are said to be leaving as the lender re

dani: it is great to have you back. since one of the best barometers of how serious the situation is, not only on the first day you get back you do this cracking interview with the uae finance minister, but you were supposed to be enjoying the sunshine and you were keeping on top of the opec story. that tells you why the market is nervous, because it is nervous, isn't it, with the tight spreads? manus: it absolutely is. nobody thinks $100 oil is attainable, but he would not answer the question. we will hear from both ministers in a moment, at the heart of this. how do you break the impasse, what is the risk to the market and how do they get through this? this will be a fascinating day. nobody is talking at the moment about complete implosion of the opec-plus alliance. dani: right, that flag not being waived, the uae threatening to leave not happening yet. that is key to the story. i want to jump into the data, starting with brent. snapping four days of gains, headed lower and hovering around $76 a barrel. we are seeing

this is bloomberg. ♪ dani: live from london, i am dani burger with alex alongside me in new york.s off. vf had a beat and raised its full year fiscal 2022 outlook but shares are falling as the company outlined supply chain issues. abigail doolittle is coming through the results for us. abigail: it is puzzling because the stock is down more than 6%. they put up a phenomenal quarter. they beat adjusted earnings by 140%. they beat revenues and put up almost $2 billion. they beat that by more than 1%. the guidance is good. vans up 110%. sales growth of 104%. it probably is supply chain issues. thought supply chains could put a kink in future sales. stores have reopened but an age of 5% of the stores closed. perhaps some folks are worried that the trends about the future as the delta variant seems to be roaring around in the world that that could crimp the big sales growth they did propose in the second quarter. alix: thanks a lot. appreciate the set up. let's get more with steven rendle, vf corp. chairman and ceo. where are the biggest bottlenecks and how soon do they resolve? steven:

dani burger and for guy johnson -- dani burger in for guy johnson.ani: i've been saying this all day, that it is able market that refuses to quit, but today is a really big test. we might be heading a little lower in the u.s., but in europe we are definitely heading even lower. we are down by 0.2%, so not a huge move yet but as you say, this comes off the back of record highs, a lot of optimism that earnings season would be good, but perhaps it is not priced into your cable rate which is up 0.5%. it is a fifth consecutive day of declines as of yesterday in the u.k. virus case counts, but that doesn't yet reflect the reopening and normalization of a lot of the u.k., so maybe it reflects us coming down from when the euro spread virus case accounts -- you're a football spread virus case counts around. -- euro football spread virus case counts around. alix: in the u.s. you are pretty much trading flat. you have a minor bid into some of the cyclicals within the s&p, so not really going much anywhere. the nasdaq golden dragon china index, that basically li

dani: great to get your insight.e will have more on the pharma industry efforts to deal with the virus. bristol-myers' cep joins us in the next hour -- ceo joins us in the next hour. investors will be watching for more clarity on tapir talks when the fed releases its decision today. bloomberg's international economic than policy correspondent michael mckee has been paying attention to this. we'll get those details of tapering and when it might start? dani: they will talk about -- michael: they will talk about tapering, but they won't give us much in a way of details. jay powell hoping that just before the u.s. close, everyone is focused on earnings again rather than with the fed is going to do. they are not ready to make changes to their policies. they are going to have to make changes to their statement. this is what they said in june. progress on vaccinations has reduced the spread of covid-19 in the u.s.. inflation has risen, largely reflect in transitory factors. then you take a look at what has actually been hap

[laughter] dani: that is so good.nd people buying gold, negative real yield good for gold bugs as well is the commodity sector. but what about the banking sector? we had credit suisse reporting a bigger than expected plunge in second-quarter profits. maybe not as positive as a day for them. net income tumbling 78% from a year earlier, dragged down by a slump in trading. of course, made worse by a 650 $3 million archegos related loss. here is ceo thomas gottstein. >> investment banking has been and is absolutely core to our business, and we are investing in it. we are spending a lot of time with clients, and as you know, we have a strategy where we bring our wealth management kit abilities together with our investment banking capabilities, available to private clients, corporate clients, or institutional clients. dani: joining us now is bloomberg's jp barnett. is it my understanding that this archegos report was 165 pages? what is the main takeaway here? jp: it is very interesting stuff. there are two things standing o

dani: exactly.f we see pending home sales falling, it is not surprising, as you say, given those constraints. let's dig deeper into those housing numbers. we have carl riccadonna, chief industry economist for bloomberg intelligence, joining us. what do you make of the data we have gotten so far? carl: as we look at the existing home sales numbers or the pending sales of existing homes, we see that the supply constraints are really becoming a very severe issue. this is not just a new construction story. i know we like to talk about lumber prices and all of those issues holding in-home sales from a supply shock point of view, but really the inventory of homes new and existing is putting a damper on sales. we saw a drag from residential investment in this morning's gdp numbers as well. so supply shocks, something jay powell focused on yesterday, were very much evident in today's gdp numbers, and all of that inventory restocking that is going to be required in the second half of this year i think is boo

dani and i are looking at the 30's. can you try to explain to us why bonds are at 135 with a taper on the way, in theory, and a 7% growth number penciled in? why such subsumed level? >> it can only be two factors. first, and underlying doubt in the durability of the recovery. second, that central banks are still huge marginal buyers. you may be inclined just to hold this taper especially well the market is going, knowing full well if you are wrong and there is more growth in inflation, you can form an orderly queue outside the central bank, the fed, the ecb, the boj, we'll just take bonds from you. it is mainly structural factors rather than fundamentals. what they really think the inflation outlook is for the u.s., i am pretty sure they will say it is 135 -- above 135. dani: there is another mystery i was hoping you could help me solve. i was looking through the report. ms. discussed issues with employment -- manus discussed issues with employment. it seems the same kinds of inflationary concerns we have been having. c

dani: absolutely. i should say that the hopefulness of traveling is giving us more of a lift here in this equity market, but it is all about earnings. we are seeing the stoxx 600 moving higher, just around 0.6%. the best performing sector is actually technology today. tech earnings happening in the u.s., maybe some optimism for what they will look like here in europe. . i would also put your attention to the euro-dollar. it is weaker today, really having a hard time staying above that $1.18 mark. the risks are asymmetric to higher rates, which put pressure on the euro, as well as an options expiry. it definitely seems like the bias is to the downside. it is all about king dollar today. alix: but also what the fed is going to do about that, and if the u.s. exceptionalism we have been feeling will wind up hurting us in the long run. we will see what the dollar ones of doing into the fed. we are definitely waiting for the fed. china also came in to try to stabilize markets. take a look at my board. you ca

this is bloomberg. ♪ dani: welcome back to bloomberg daybreak: europe. i'm dani burger in london.f gamal el-din is beside me in dubai. china is celebrating the 100 anniversary of its ruling communist party. addressing a crowd of about 70,000 in beijing, xi xiping highlighted the nation's progress towards "a moderately processed society." the chinese president used his speech to warn foreign powers do not get in the way of the country's historic mission. >> we have never bullied the people of any other countries, and we never will. we won't allow any foreign powers to bully us. dani: joining us now from beijing is bloomberg acre -- anchor tom mackenzie and from hong kong we have our north asian correspondent stephen engle. what did we learn exactly from his speech? tom: he had a number of different audiences in this speech that he laid out for those 70,000 members as he stood at the gate of heavenly peace in their forbidden city. he was talking to the domestic audience at the party is self in the international audience. with the domestic audience he was underscoring the successes t

dani: certainly the u.s.how that shakes out when it comes to chinese companies. thank you for joining us on this monday. that is terry haines, pangaea policy founder. let's bring in patrick armstrong of plurimi wealth to get the view of what is happening here as well. thank you for joining us. when you look at the moves china is making against tech, specifically u.s. listed tech, does this bring into the fore geopolitical concerns? do investors need to be pricing this in? patrick: it is something you've got to be aware of. it has been going on for years, with what the u.s. did with huawei, and you have seen alibaba with their ipo, and didi now. it is something you've got to be aware of. it is something that i don't think is going to change, but i don't think it's got an overarching real risk to the macro back drop and risks to equities as a whole, but more specific stocks. i would not think you would want to be clamoring into any chinese company looking to ipo in the united states right now. dani: besides the

dani, estamos contigo.116 minutos el seÑor mckinney despuÉs de ver cÓmo reaccionÓ la furia y estÁ llevando al lÍmite de los penales Éste partido. le quedan cuatro y dudo mucho que a pesar de que algo se ha perdido el tiempo, vale agregar mucho el Árbitro alemÁn. aquÍ estÁ para reventar la pelota. el balÓn para thiago y ahora la maneja rodri. servicio al costado y no lleva y el balÓn se va. vino para marcar bien haber arde asÍ que el servicio fue lateral. >> italia no encuentra cÓmo tener la pelota en los pies. les cuesta mucho hilvanar jugadas y regresar a guardar los Últimos minutos porque apunta a los penales. obviamente que va a apostar por cerrarlo pero todo indica que ya tiene la cabeza. >> vamos a ver si le levantan un balÓn en el Área. se ha convertido la falta por parte de ellos. y despuÉs venga la tarjeta amarilla para el central. el segundo amonestado en italia, leonardo. lo hoy los dos amonestados para el equipo italiano. balÓn asÍ para torres. >> el primer choque en Éstas dos elecciones es el 12

rishaad: all right, dani, thanks for that. joining us from london. i.b.m.st sales in the recent three years, on strong command. cloud computing up 3% to almost $19 billion in the second quarter, it signals that the pivot to the cloud is paying off. the company is spending $3 billion to bolstering its cloud and a.i. communities. robin hood is chasing its valuation just shy of the highest analysts projections. looking at the filings for the companies, at this stock frenzy, 55 million shares are up to $42 apiece. the fifth biggest i.p.o. on an u.s. exchange this year and expected to start trading by the end of this month. an australian inquiry has been told crown resorts is not fit to one its flagship melbourne casino. the company had "failed dismally at controlling money laundering." they recommend the gaming license in the city be cancelled, the final report due by october 15. sky city entertainment to close its casino for four days, an increase with covid-19 restrictions. an alert level four in response to four new community cases. the city will remain open

dani -- dani berger explains.antra for how they will pay for it all. >> the u.s. minimum rate of 15% is an interesting and solid basis. dani: g7 countries agreed to a global minimum tax of 15%, what they call a landmark agreement. last week, the oecd managed to get 130 countries on board. the current goal could be as soon as 2023. oecd's current plan would bring in an extra $150 billion a year. >> the absence of a solution and trade wars. taxation would harm innovation. dani: technically this might be a historic crackdown. the 15% would be higher than ireland's level of 12.5%, but lower than all g7 and eu nations except for hungry. island and hungary are the go to in europe, including google, apple or facebook. for some, it is not ambitious enough. >> 15%, there is still a big drop ahead of us. we need a minimum corporate tax rate close to the level where we are now on average. that would mean we have to be at around 25%. dani: those most at risk might be the zero territories. they might choose to be exempt. inclu

shery: that was dani burger.n all of the issues that remain, what are we expecting from the g20 this week? >> we have seen the oecd has gotten 130 countries and jurisdictions support a global minimum corporate tax rate plan. there are still some significant hurdles that need to be overcome as they all meet this week. congress is one of the big hurdles so a lot of europeans tell janet yellen how they would navigate that problem with congress, dealing with some of the larger multinational firms like facebook and google, how to implement the overhauls in 2023. haidi: the implementation is key. how difficult is the ratification going to be for this? >> it's going to take some time. they are planning to spend the next couple of days to start working on the technical points of the deal and the g20 leaders a summit in october, when president biden meets with counterparts. that is when they hope to sign a pact to fully begin implementation after that. haidi: let's get you a quick check of the latest business flash headli

dani: this week, the rise of green finance.o we make sure this money is as green as it is supposed to be? >> no matter how you look at it, it is inevitable. we know the direction is clear but the roads will be bumpy. dani: the green standard for bonds, tightening rules for banks on climate change, and turning money into motion. the story of how one small

joining us with the latest is dani burger.are the details on the banks lifting dividend restrictions? it is having an impact in hong kong on the hsbc listing already. dani: obviously this is taken as a positive by shareholders because they want that payout act. there were concerns going into the financial stability report given the noise out of the ecb. they say we want banks to be cautious, and we have the tools to curb excessive dividends. the boe removing the guard rails is clear in this report of the u.k. financial system is resilient, that they have ample liquidity, ample support to give to households and businesses as the economy recovers. they think banks can continue to help, therefore they can continue their dividends. mark: the boe thinks the economy needs support from financial systems. is that correct? dani: exactly. compared to the december report, they see an improved economy. there are less risks, but covid is not over, especially as we have new variants spreading and case cans beginning to rise, and fiscal supp

don, this is asking us don 2nd busiest entry point and the main link to pockets dani ports. i've got to start, the government is insisting they pushed back the fighters, but civilians in the air is the taliban is in control of the order polish. charlotte balance has moved from cobble. this isn't the 1st border crossing they have taken. it is the largest, but it isn't the 1st they have taken in the last few weeks. they've taken some smaller ones up on the northern border of afghanistan, minnesota to chico, and also on the iranian border. they took quite a large border crossing called islam color. now we've talked to truck drivers who have come through this since they've taken that crossing and they say yes, we're now paying taxes to the tele bomb thought. we got a few kilometers down the road. only had a government checkpoint within pay taxes to them. also. what began as a protest against the jail sentence. for fullness, south african president, jacob's duma, has turned into the countries was uprising in decades. some of the worst, some the was violent protest, i should say,

voy con dani chanona porque vuelve a explotar wembley.tar los pequeÑos trozos cubiertos con lona, han servido de trampolÍn para que hayan festejado la segunda anotaciÓn de la noche, al tiempo que se celebraba una modificaciÓn. >> ya estÁ en la cancha. camiseta nÚmero 19. atenciÓn, cese viene por el lado izquierdo dinamarca. esta por terminar en el primer tiempo extra. entrega del balÓn. transporta por el lado izquierdo. atenciÓn con esto. tiro libre, dice el Árbitro. uno de los mejores momentos en todo el partido para inglaterra. mauro: obviamente la ventaja le da tranquilidad. obliga al rival a cambiar estrategias. ahora sabe que tiene mÁs espacios para poder contragolpear, para poder hacer un fÚtbol mÁs fÁcil. yo creo que antes o despuÉs, el gol iba a caer. porque estaba actuando mucho mejor y sobre todo porque dinamarca habÍa renunciado a intentar hacer algo mÁs. >> se cobra el tiro libre. foden con el balÓn. fue a buscar la lÍnea del fondo ahora . intenta pasar. mal control . la tiene dinamarca. se va a terminar este primer tiempo ext

dani burger explains.ve a new mantra for how they might pay for it all. >> for too long, there has been a global race to the bottom and corporate taxes. >> the u.s. proposal for a minimum rate for 15% is an interesting and solid basis. >> last month, g7 countries agreed to a global minimum corporate tax of 15%, what they called a landmark agreement. last week, the oecd managed to get 130 countries and jurisdictions on board. the current goal for implementation could be as soon as 2023. the oecd's current plan would bring in an extra $150 billion a year. >> what would harm innovation is the absence of trade wars. taxation would harm innovation. be such a historic crackdown. the 15% level would be higher than ireland's 12.5, but lower than all g7 and most other e.u. nations. ireland and hungary have not yet joined the plan. ireland is likely to remain the go to in europe including google,ñ,ñ,ñ, for ambitious enough. >> 15%, still a big drop ahead of us. dropping to the minimum instead of dropping to the bott

smiriti mandhana top scoring with 70 as they finished on 153 for six and in response an unbeaten 89 from daniix win. i was really pleased with the way it went tonight. it was a really nice wicket. thought our balls were bowled really well to restrict them to that total. and yeah, ijust batted sensible and just play to my strengths. i love nights like tonight and to get a series win as well, just makes it even better. we've had to wait two years because of covid — but it's back — golf's open championship — and with fans — and tomorrow morning at 6.35 the first player will tee off at royal st george's in kent. ben croucher reports. teeing it up at last on the kent coast. better late than never. the open championship real st george's is one of goals most fearsome challenges whether it's the devil is roughly swirling sea breeze or the fairways and greens the players are in for a bumpy ride. it's just not as exciting i don't know why whether it be a couple of shots to nothing. you know, a couple of blind, a couple of tea shots shots where you can't really see much i'm not too big a fan of that. fe

ah, how can there be peace when we pockets danis can't even own a small plot of land. the he's follow is to cut arms and terrorized islam about the capital was on the verge of an uprising in the army stepped in and stormed. the red mask, radical militants were dragged out. i'm de la these guys. he tried to escape, but he didn't get far. the police found him disguised as a woman, gets away, and arrested him. the depress, nicknamed him moolah booker. but he was not convicted. he was a quick, don't own charges. the and b o thorough ease negotiated to cease going on with him in the capital. upon his return, he was greeted by hundreds of his followers. ah, allah wielded. we will continue the war to impose shari'a law until my dying bram. i will fight to establish an islamist regime so that our country will finally have all the bonds of duleigh these guys he was placed under house arrest, but he's allowed to continue educating young students in his mac rasa. i ya, but we only have a few students here that are big. medusa is over on the other side in this room about 15 boys l

this is afghan us down 2nd busiest entry points and connects it's vos, southwest with pockets dani port and the province as shift on at least 58 people have died in germany. thousands and missing is flooded rivers sweep through towns and villages across western europe. hundreds of german soldiers and thousands of relief workers have been helping police with rescue efforts. at least 2 others have also been killed in belgium, while record record rainfall. drench is the region destroying houses and leaving people stranded on rooftops. and a syrian search and rescue group is saying a government as strike is killed at least 9 civilians, including 3 children, volunteers from the white helmets have been digging through the rubble and evelyn town and southern it lead strike followed an attack on the town of food which killed another 60 williams white helmet say the government has stepped up shelling again gravel and it lives flight c, 5 broken by turkey and russia. last year. over headlines this, our coming up next on al jazeera, we look at the sharp a women seeking to conquer mount everest. th

good start to learn more, visit safetyactioncenter.pge.com ♪♪ >>> right now on "california live," dani'sa house call at dr. pimple poppers. >> we're going to take you behind the scenes where all the pimple magic happens. >>> then kim's playing the karate kid. today we're in little tokyo learning all the martial arts moves. and it's double the trouble. >>> and get ready to smack your lips. malou is celebrating mac & cheese day. >> say cheese! we're going to show you the secret to making one of amic

restore order in south africa after a week of violence which has killed over 200 people in britain, dany carson cases, past 50000. again, scientists warn the government's plans, and if most restrictions is reckless, was less than a year to the paging winter olympics. think as to being pointed at china's human rights rankled. ah. emergency workers in western germany and belgian are searching for more than a 1000 people still missing off to heavy flooding. a 125 people and i'll confirm to have died. but rescue efforts of being hampered by collapsed roads and damaged communication lines for countries have been hit by the record flood. so the full extent of the damage across the region is still unclear. algebra step vos and reports now from the german town of syncing, where people are still trying to process the loss of life on the destruction to their homes and communities. they were trapped in the rooms on the 1st floor when the water rose up to 4 meters in no time, at least 12 the residence of this home for disabled people died before they could be moved to safety. across the street gabri

we have evacuated a covered 900 patient from dani village oxygen level and carried him toward the bridge from where he'll be taken to hospital by ambulance. it's reported around 200 people have died in the flooding and lance live and doesn't remain missing. lots of you. there were 5 people in sight to my mother, my brother, his wife and my brother's 2 children. only the boy's body has been recovered. the rest of the poor family members still haven't been traced. flooding and lance lives a common in india during the monsoon season. but scientists say the frequency and intensity of heavy rains is increased because of climate change. happening in mud astra has seen its heaviest rain for the month of july. in 40 years, the district administrators said illegal construction along the rushes, the river and discharged from the cold water dam. court added problems and environmentalists agree. why don't you expire on the. busy system of really a job in the water which is not coming up on the floor plan. the master st. lead it with i've talked a has been visiting the worst effected areas and has pr

takes more territory. president joe biden has promised continued support to afghan leader ash ref dani. the interpret is it may also be able to move to canada. the canadian government is launching a special immigration process for those who helped coalition forces at the local staff and their families will be included in the program and the guts. the dutch government has been accused of not doing enough to re located the afghan interpreters who worked for its forces. thousands who helped foreign troops and now at risk of attack by the taliban step investment has more from bank. this is a new base for making a new base the dutch government, and making a new base c hoc work for that forces in afghanistan from 2007 to 2009. he arrived with his family and an adult and last april, after a lengthy and complicated procedure that took 2 years, still, fearing for his life. he does not want his identity to be re field. well, i feel for the other people that are still stuck over there during my time when i was working for this process to get out of a fun is ton and come to holland. it was still a

." ♪ dani: good morning and welcome to "bloomberg surveillance: early edition." what's coming up on today's program. beats and buybacks. bnp paribas aussies a rebound in equities as natwest annou

what's happening on the pockets dani side of that spin build on the border crossing? well, i've just spoken draw current tags in the area. and he said that they said and did turning out to be a huge amount of darion issue, because you've got thousands of people on both sides of the border, not knowing what to do. they of course, i'm not allowed to cross because they carry a situation riding from the dollar bar and take over of the border crossing. i've been ball doug. we also have confirmation that the dollar bond have made more gains in that district of been bolduc. and now gathering place called shuddered. border with butcher, but signed to go for gun to ha. now the important thing to understand here that within the next few days, it will be to eat all day. many family members on both sides of the border would be wanting to meet each other. and we also did a lot of people who need medical assistance. they come to get on for medical assistance. many of those people also talk on the other side. sure indeed, of a precarious situation. and we've also heard that the budg

and in response an unbeaten 89 from dani wyatt saw her side over the line with 8 balls remaining as they were bowled well and ijust batted sensible and played to my strength and, yeah, i love a night like tonight and to get a series win as well makes it even better. defending champion tadej pogacar is within reach of a second tour de france title as he takes a big lead into stage 18 later. the two—year—old slovenian won stage 17 on wednesday and is now 5 minutes and 39 seconds ahead of his nearest challenger with four stages remaining. tennis — and the top seed stefanos tsitsipas is through to the quarter—finals of the european open in hamburg. the world number five from greece — who's already won two tours titles on clay this year — beat germany's dominik koepfer in straight sets. tsitsipas — who was given a wildcard to compete — won 7—6, 6—3, and he'll play croatia's filip krajinovic in the last eight. you can get all the latest sports news at our website — that's bbc.com/sport. but from me and the rest of the team that's your sports news for now. thank you, tolson. music streaming is