. >> they started with david chang. >> david tried the burger, called it a game changer, reached for mobile phone before i could stop it. that opened the door for people who follow great chefs. >> martin, the chief culinary officer for night life and food brands, including the umami burger. >> mind boggling in a way. you sort of didn't expect something so real in front of you. this is real meat. >> this partnership is paying off on both sides. putting the impossible burger on the menu for the first time, they saw a lift in sales in 26% in a few weeks. >> we put a big marketing push behind it. i think people were excited, curious. it drove a lot of people to our restaurant. >> it made them curious, but the taste had them coming back. the impossible burger is one of the top three sellers. >> up to 75% of consumers were seeing it and are hard core meat eaters. it's driven great business for them. it's their core customer that keeps coming back, making it the best selling burger for weeks on end. it's why they launched several versions of it. >> they are making a tasty version, but more

. >> they started with david chang. >> david tried the burger. he called it a game changer.eached for his mobile phone and immediately posted it even before i could stop him. that broke the door open for people who followed great chefs like david. >> and martin, who is the chief culinary officer for some of the country's hottest hotels, night life, and food brands, including the very influential and very popular umami burger. >> sort of mind-boggling in a way because you sort of didn't expect something so real in front of you. this is real meat. >> this partnership with chefs and restaurants is paying off for both sides. after putting the impossible burger on the menu for the first time in 2017 umami burger saw a lift in sales of 26% in just the first few weeks. >> we put a big marketing push behind it, and then i think people were excited. i think they were very curious, so you drove a lot of people to our restaurants. >> the marketing made them curious, but it was the taste that had them coming back. the impossible burger is now one of the brand's top three best sellers. >

now to david change to who is live for us in warsaw so david it looks like a real standoff is developing now between these judges in their supporters and the government on the other side. doesn't that's right it's a very confused situation of the moment nobody knows quite legally where they stand but the twenty seven judges who are removed from their positions here at the supreme court by the new legislation did turn up for work today they were led by the chief justice and she was saying essentially that under the constitutional law she should have a right to stay in her position until twenty twenty but of course the government says that it's their rule of law at that they have passed through parliament which should take precedence the chief justice was saying that essentially this is a purge to fill the court behind me with judges on the bench is that will be much more sympathetic to the government position but the the government say essentially they needed reforms because of the taint of communism and the corruption inside the judicial system and even the. in the european parliament th

david: change immigration rules to one where we get people in who can actually help our economy.le who are good bricklayers, people good doctors. people who we really in need of, rather than this crazy lottery system that we have now. >> absolutely. look, i live in southern california. i think you're very familiar with the area yourself. we know, we could not live without mexican immigrants. we could not live without skilled mexican labor which we get much lower price than skilled american labor. let those people come in. let's of course vet all of the people coming in carefully as we possibly can but let's not put up a wall. let's not try to screen people out of -- david: that is whole another issue. ben stein. >> absolutely. borders make a country. david: they're giving me and you the hook. ben, great to see you, my friend. thank you very much. melissa: seeking answers. lawmakers grilling lisa page on capitol hill one page after peter strzok has his chance to defend his actions. the latest on the fireworks coming out of washington coming up president trump attempting to set the

david: he seems to have done an incredible job of changing the course of the world. it was unintentional. david: does president trump call you for your advice? james: no. david: for people who are watching who say, what are the words of advice for the congress or the administration from the him great former secretary of state, jim baker? james: i think we absolutely have to understand that one of the biggest threats facing our country and facing our democracy is the political dysfunction we have today. when i was there 25 years ago with reagan and with bush and ford, we reached across the aisle. thank you for your friendship and your great leadership of our country. james: thank you for yours, david. [applause] ♪ david: do you think that women can run defense companies better than men? [laughter] >> it is a team sport. donald trump sent out a tweet saying your biggest products, the f 35 is too expensive. you are recently voted the 22nd most powerful woman in the world. >> i get a text for my brother saying why was over higher than you? >> could you fix your type leas

cheap.tremely to theee a resolution and uptickin china, in global acceleration, risk appetite will change. davidhopefully. it does. how much lower can we go? thank you so much. john wood with credit suisse cio. check of theck headlines. let's get update on this company. it named 20 year veteran as the new leader. he was most recently in charge of the companies wireless network. he will be replacing him. demandedn had management shake up as part of dropping. all right, pack your bags. german, spanish and french. is askingn chase dozen employees to relocate. you seen it. the investment bank will begin year. later this j.p. morgan has about 10,000 workers in london and operations paris and frankfurt locations.other quits.er if you're one of our clients catch up on all the interviews you missed here. the function for that. bottom left of your screen. check it out, tv go. bloomberg. ♪ david: let's have a look at oil. prices fell to their lowest in weeks following prices in u.s. stockpile. saudi arabia also lowering for all crude in the u.s. day after president opec to bring down. mean?oes that >> it'

. >> while elton said his sons with husband david furnish have changed the entire orbit, don't expectthat, you've got to go around and say to all the continents and say, this is it. good-bye. thank you very much. i want you to see the best show i've ever done. >> his farewell yellow brick road tour will kick off in september and stretch over three years. elton's family will join him as much as possible. how adaptable are they to life on the road? >> as long as they're with us, they're happy. as long as i'm with them, i'm happy. you know, they travel with us a lot, and they've been to a lot of countries. as soon as i get offstage, they go back and play with their lego. they're still little boys and not obsessed with what i do, thank god. >> elton was not missing a beat performing some of his iconic hits prior to the announcement. ♪ as "e.t." has seen over the years, elton has a history of teasing end of life on the road. ♪ don't go breaking my heart >> i said in 1977, i think, i was going to retire. of course i didn't. >> elton is adamant, this time he means it. >> this is a different

david: your point is that businesses when they make decisions should take into account political risk as well? condoleezza: and constantly surveying the landscape for how those risks are multiplying in changingvid: what would you like people to think of as your major accomplishment? condoleezza: my government career. i hope people think i represented the united states well and hope people think that i represented our values, especially that we stand for people who have no voice themselves. that people who are suffering in jail cells and putting their lives on the line for the very rights that we almost take for granted. you can say what you think, worship as you please come and be free from the secret police. we advocated for that and we believe no corner of the earth should live in tyranny. my academic career, i hope that people think that i helped a new generation of kids come up many generations of kids, find themselves and recognize that it was never my job to tell them what to think, to tell them what i thought in a rigorous and systematic way, and that may be a few leaders that i trained will take that to their leadership. david: you have seen great leaders around the world and the uni

david: that was a great interview. alix: should i change my name? david: i like you as alix.witter, still down. a decline in monthly active users in daily active users and they got hit in premarket. they are making money off of those users. alix: those users are slowing. we will delve into that. david: we are going to bring on dan morgan of synovus trust. he is a close follower of this. that is coming up next, with more on bloomberg. ♪ retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. alix: this is bloomberg daybreak. i'm alix steel. happy friday. we made it on this busy earnings week, dow jones futures up by 20 points. you have to wonder how twitter is going to fare, down 16%. in europe, a rally und

the president who seems to be the only one guiding this message to get his arms around it or change it, david. >> the frightening thing is that he has this sense that he can walk into any room and just charm the other person. this is true with kim jong-un who's i think embarrassed him since the summit in singapore and it's certainly true of putin who's a professional manipulator. i mean, that's how he's trained. and so trump walked into that room and really into the arms of a guy who's prepared to take advantage of the situation and then, of course, was the press conference came and the signals that were sent to the world in that press conference and american president really submitting to vladimir putin. these are, you know, this is not -- i know this is a phrase that's beaten to death but this is not normal and it's deeply concerned. >> david, one of the things we had rick santorum on. he speaks sort of the mind of trump supporters and one of the things that they often say is don't look at what the president says. look at his actions. and if you look at his actions, they're different on rus

how much has david city changed?s broke, unrepentant, and frustrated that things weren't going his way. so, this is where it started? one night, he got a call from a friend asking him to come down to the local bar for a drink, and listen to what turned out to be a very bad idea. >> shon hopwood: he said, "what do you think about robbing a bank?" and most people would have laughed that off, or said, "maybe we need another beer." or anything, other than "that sounds like a great idea," which is what i ended up saying. >> kroft: really? >> shon hopwood: you know, i don't think either one of us thought that night that we were going to actually do it. >> kroft: it sounded exciting. >> shon hopwood: it sounded exciting. sounded like easy money that we didn't have to work for. something that fit with where my mind was at, at the time, which was a reckless, immature, foolish 21-year-old. >> kroft: it wasn't until months later, when they started scouting locations, that shon realized they might actually do it. so this is one

kailey: input cost not change overnight. davidank you.breaking news across the bloomberg with reports that micron shares are tumbling because a chinese court has temporarily banned the sale of macron microchips in china, the second-largest market in the world. we will cover that more closely. shery: also ahead, doubling down on north korea. secretary of state mike pompeo heading to the kingdom to work on denuclearization plans. we have details, head. if you missed any of our interviews, tv is the function. this is bloomberg. ♪ david: we will bring you more on that breaking news on nine chronic. micron.n -- we welcome one of our reporters who broke the story. welcome. tell us what we know and don't know about this developing case. >> this all started last year ron accused umc of stealing its secrets out of taiwan and using it as a conduit to help the chinese. umc countersued and said actually you are in pinching on our ip and they did that in mpinging on our ip and they did that in china. over half of its revenue comes from th

david, facebook says it's investing heavily in security, but acknowledges these adversaries are determined, well-funded and are constantly changing tactics. david? >> rebecca, thank you. >>> and today, in new york city, president trump's homeland security chief left no doubt who meddled in the 2016 elections. not long after the president stood behide vladimir putin, saying he offered a powerful denial. >> let me be clear. our intelligence community has it right. it was the russians. we know they. they know that. it was directed from the highest levels. and we cannot and will not allow that to happen again. >> vice president mike pence also saying today it is, quote, unambiguous, the conclusion of the u.s. intelligence community that russia did meddle in 2016. >>> there is new evidence tonight that north korea's nuclear threat may not be over, despite president trump's claim after the summit that there was no threat. u.s. intelligence showing tonight it appears they are building one, possibly two new intercontinent al ba cystic mistles and are still producing fuel for nuclear bombs. secretary of state mike pompeo has stressed that

now we really have to have a change. david: which leads us to a related issue with president trump.s come out and said the wto treated us very badly. he is not prepared, yet to pull out although he seems to be holding out that threat. is he right about the need for reform for wto? what at -- what should and could be done to modernize it? carla: what should be done is to upgrade it hurried we came to a in 1994.he wto we did not have rules governing trade and many services that are offered today and lots of other things that we need to do to have rules that govern the 164 measured -- members so they adhere to the rules and our investors know what the rules are, our buyers get the best deal they can get and our workers have the opportunities to supply. isse are things -- the wto invaluable and we are part of the problem when the president complains because we put a hold on appointing the appellate panel and, i think, rapid resolution of rapid resolutions among trading partners is of great value. david: does the requirement of unanimity limit the effectiveness of wto? does it essentiall

david: it may change. who knows where it will settle. good to see you. i'm david asman. thanks for joining us. this is "after the bell." more on big market movers. here is what else we're covering for you in this very busy hour. fireworks at the first white house press briefing since president trump's summit with nato and vladmir putin. the press demanding clarification to comments the president made earlier over russia's interference with our elections. we are live at the white house with the very latest. is the president considering turning over bill browder. he is an american credited with exposing corruption under putin? is he in danger given over to russian inquisitors in exchange to get access to the 12 russians indicted for hacking? sarah sanders answering that question. browder fears that is in the works. he will join us coming up. >>> earmark explosion. government waste topping $14 billion. up 116% from last year according to a new report. indiana congressman jump banks at the release of the annual "pig book." he will respond to some of the most egregious exampl

david: it may change. who knows where it will settle. good to see you. i'm david asman. us. this is "after the bell." more on big market movers. here is what else we're covering for you in this very busy hour. fireworks at the first white house press briefing since president trump's summit with nato and vladmir putin. the press demanding clarification to comments the president made earlier over russia's interference with our elections. we are live at the white house with the very latest.

when those changes are implemented we will take a look at things. that's how we think about this problem. davidso trade that has been in the national agenda. just a short time ago president tariffs are the greatest. either a country which has tweeted the united states -- treated the united states unfairly gets a fair deal or gets hit with tariffs. remember we are the piggy bank that is being robbed. all will be great. what effect could trade disruption have on eli lilly? david: the president of the united states right now is speaking at a vfw convention in kansas city, missouri. >> this incredible organization. that's what it is. it's incredible. i'm honored to be here today in kansas city, missouri area -- missouri. to pay tribute to the men and women who make freedom possible to francis -- kansas city and what a special place. what a special group of people. the veterans of foreign wars. very proudshould be of yourselves. i want to personally thank each and every one of you who have served our country in uniform, defended our nation in battle and protected our great american flag. i also want

voters this time around as they were angry at where the country is headed and they were looking for change. davidhe will not be the first mexican president that comes in and says we have to address the problem of corruption. of spending,estion how did he make the numbers work ? he also said he is not going to increase taxes. how does that work out? shannon: this is the big question. he says is going to take the money that goes to corruption and spend it on these policies. we all know it is easier said moneyone to five the that goes into corruption, but will he be a pragmatist? many of his speeches are pragmatic about the economy, or will -- shery: investors wondering will hugo a luna da silva or an chavez. how much of his a surge was due to president trump? shannon: actually, very little was due to president trump. election saw or one on domestic issues. all of them have been anti-trump. is i thinkeresting we will see a change in the u.s.-mexico relationship particularly in rhetoric. the current president has been very silent in the face of the from trump and i do not think we will see that from

david: it was not to change the world, it was to change your world? was for dignity and marriage. david: how important was it to you and your husband but also to the lgbtq community that this decision came down this way? jim: it was incredibly important to the community. i think about the last three years of my life and how many people across this country have stopped me and thanked me, helped me with tears in their eyes, showed me photos of marriages of their children and talked about how marriage equality made them feel secure, made them feel safe, make them feel better about their kids' futures -- it was incredibly important to our community to be able to participate in the institution of marriage and to have that respected by our government. weid: it a few hours' time, will hear who president trump has asked to be the successor to anthony kennedy. how do you follow that selection process different, given your before?ce, then you did jim: honestly, david, i not sure that i follow it any differently than a lot of people. of time and a lot effort int

david: he likes to surprise. what has changed? that pressure has been there all along.at is right. when you look at their outlook report they were clear, there were gradual risks that could build up, but these were risks not worth and attention to at this point. three months later they are going to allow yields to rising get rid of the yield curve control policy. it doesn't make sense to me. here we are. alix: we had a steepener globally. how can we have a steeper curve in japan and not a stronger yen? it seems counterintuitive. >> i think that is true. they want profitability in the bank during sector -- banking sector. if they need to tolerate a stronger yen they will be willing to do that. there's a lot of things working in favor of the yen. not only the boj but emerging markets and trade tensions. the yen is a proxy for risk on risk off. when the markets are wobbly the yen rallies. just on these yield curve comments from the bank of japan and tensions in the market broadly they are willing to tolerate that if they can get what they want out of the banking sector. al

david: congressman biggs, thanks. great to see you. susan: a change coming to your 401(k). new bill in congress could impact your retirement savings. we have details for you coming up. >>> plus prime day continues. website glitches taking amazon's big day off to a rocky start but the subpoena says it is already breaking records. more after this. ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia. and now for the rings. (♪) i'm a four-year-old ring bearer with a bad habit of swallowing stuff. still won't eat my broccoli, though. and if you don't have the right overage, you could be paying for that pricey love band yourself. so get an allstate agent, and be better protected from mayhem. like me. can a ring bearer get a snack around here? [music playing] (ceo) haven't been

change? is this something users will pay for? or that they will expect for free? davidome people are willing to pay for privacy read some people expected for free. in the u.s., about two years ago, privacy was something that only technology geeks cared about. today it has gotten mainstream. if you look at the apple app top 50 most popular apps, you will see facebook, twitter, instagram, and others. we are theop 50, only privacy and security related product in the u.s., it signals millions of u.s. thatmers have a found security and privacy is important to them. it went from something really niche to something that is really mainstream. more businesses are realizing their data is on facebook, their data is all over the internet and they look to predict there'd data -- protect their data. hotspot shield is more than just a vpn. it protects against a number of different online threats. one is that it makes your ip address anonymous. it also encrypts public wi-fi if you're connecting to the web connecting at a public location. malware is a lot more robust on mobile. emily: q

at the moment, it is good, a good time for the boj to make this kind of policy change. david put, i am sure it is not a simple answer, is abenomics working? the boj did it and it contributed to the depreciation of the japanese yen and that contributed to the higher thatrate profit, so in case, it was very successful but in terms of achieving the with of 2%, ihievability don't see it happening. alix: thank you so much for staying with us on this, sayuri shirai former biaggi policy -- former boj policy member. we will speak to tamar essner next after exxon's rough quarter in bp's solid quarter -- and bp's solid quarter. ♪ kailey: this is bloomberg daybreak. a sign of optimism for pfizer after they decided to delay drug price raises. they increase their profit outlook for the coming year. they also had second-quarter earnings that beat estimates. archer daniels midland posted profit that was better-than-expected. cropcapitalized on disruption from south america. second-quarter profit rose fourfold at bp. they cashed in on surging oil prices. abouteinsured investors their financi

do think they want to change much at the moment. david: do they need to change?hange. >> the fed is hiking, the ecb is somewhere in between. boj will probably be the slowest of the three. see that happy to haven't the japanese were surprised to see the dollar-yen last week. people are thinking it should be stronger. it could them on it here he policy driven as well. >> how do you mitigate home without doing anything that ?esembles policy normalization eddie: i think for the mitigating harm is not rocking the boat3 rocking the boat creates uncertainty. for the boj, the economy is doing better. they want to make sure that continues. .nflation is not there yet boat and making sure they don't create unnecessary volatility -- that is really not doing harm. this really shows how vulnerable the market can be when the boj eases its easing program. what are the risks when the boj finally does it? >> i think that would put jgb to the upside. there would be a lot of communication that really wants to signal their action before they do anything. and they will want to avoid a

change. we know, we have seen with david attenborough‘s beautiful show that he did recently the damage that isicks in the oceans, all of the different creatures that are eating them. and dying as a result. we have to cut down on the use of plastics, particularly bags are the big one. it seems strange because australia in summer is connected to the sea that they have not made that cultural change perhaps as effectively as they could. i am sure they have tried but clearly something has happened if you are having customers strangling shop assistants. absolutely, i was quite surprised. a final word on andy murray, everyone is talking about the fact he is withdrawing from wimbledon and he says he really is doing it with a heavy heart. of course, for any british player to be at wimbledon is a big part of their calendar, the tennis calendar, but he is looking ahead to the high court tournament, august in new york. —— hard court. court tournament, august in new york. -- hard court. he had the operation in january to york. -- hard court. he had the operation injanuary to reshape his hip, he has had a l

brooke burke called her split with david charvet a "necessary decision" and "positive change." wedding's" nia vardalos and ian gomez said, "our relationship became a friendship." and after her split from anderson east, miranda lambert says, i am who i am. i cuss. i drink. i get divorced. and get my heart broken. ♪ i'm giving you on love, 'cause love's given. on me ♪ >> as for what miranda did the first time she was asked about blake shelton's new love, gwen? she hung up on the reporter. it was a rough year for some of our hollywood favorites, but for prince harry and meghan markle? well, they're still in the honeymoon phase. >> cam, they'll never be out of the honeymoon phase. they're so in love. it will last forever. we know meghan has immersed herself in royal life. but what everyone's debating today, well, does that include a new british accent? >> thank you, i appreciate that. >> a fan posted this video on twitter. from the duchess' solo trip with the queen last month. markle was talking about her may 19th wedding day. so, does meghan appear to have a british accent? >> we

david: are you asking me to be in a porno? is that what you're asking me? >> anthony: thanks to some remarkably bad koreans, though, things are beginning to change. >> roy choi: i went to one year of law school and i walked out. >> anthony: so you're a bad korean. >> roy choi: yeah, i'm a bad korean. >> david: any final advice for someone who's actually about to marry a korean woman? the answer -- don't do it. ♪ i took a walk through this beautiful world ♪ ♪ felt the cool rain on my shoulder ♪ ♪ found something good in this beautiful world ♪ ♪ i felt the rain getting colder ♪ ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, la, ♪ sha, la, la, la, la, ♪ >> roy choi: all i knew was that this town was going down, and no one was showing up. and so we, as koreans, figured that out really quickly. there's a point where you and i look at each other and say -- >> anthony: they're not coming. >> roy choi: they're not coming, anthony. you know? like, it's you and me. >> anthony: right, the choppers will not be here anytime soon. [ laughter ] >> roy choi: yeah, i mean, so that's when all the stuff started to go down. >> anthony: roy choi is

when those changes are implemented, we will take a look at things but that is how we think about this problem. davids not just drug prices but trade that has been on the international agenda and just a little while ago, president trump said tariffs are the greatest. either a country negotiate a fair deal or it gets hit with tariffs. we are the quote unquote piggy bank that is being robbed. what effect could trade destruction have on eli lilly? dave: does not much -- there has not been much impact on the pharmaceutical industry but our position has been for free trade and lower tariffs. there are differences between market access, regulatory standards, localization required minutes -- localization requirements. there are problems in trade and our industry and if the administration can work to reduce those problems, that would be a good thing. typically we have not been for that, but i have to say that there are some markets where we are seeing movement. china is making pretty sweeping reforms that are positive for us. there are other markets that are problems like canada and parts of europe. david: t

david: they beat columbia. julia: i changed my mind. david: theresa may is boycotting it. of all the ones to boycott. julia: do we get to the finals? i am still cautious. more optimistic than i was earlier this week. let's look at the european markets. we have the auto sector outperforming. we had reports the u.s. and europe are discussing the possibility of a sero-tariff regime for imports. that dialogue is a good thing. european markets higher. for s&p futures, .6% higher after the selloff, tech under pressure with that micron chip van. -dollar higher. ecb,berg reporting the some members of the governing board concerned about market pricing. we have seen that pricing come forward a bit, lifting euro -dollar. leveraged. overnight. the futures in singapore at the lowest level since april. goldman sachs to the rescue, saying it is all over done in terms of the fears and commodities are a buy. david: we have some news crossing the bloomberg, boeing and embraer. reached a possible deal. there is such a big ownership interest by brazil. they have gotten permission to go ahead

changes? no, but we are getting sustained upper pressure. davidccurs to me that every time we have a jobs day, if it is a good number, the markets go down. i guess they're worried about the fed. >> you see the upward number, $250,000 or we may beat at 195,000. they might pen in a fourth height for 2018. they tend to be sporadic moves. the market comes back to itself. jobs -- youbout said this is a big risk your ultimately. we heard earlier that there has been a lag in people responding and knowing how to respond depending on how their business is going to be hit. is there risk care until we see theter market reaction that president doesn't have all's for thought? >> to some extent, we're playing with fire. arele and the markets generally assuming, and i am guilty of this as well in my own forecasts, which stays ready positive, that it will not escalate. but ultimately, there will be escalations and stress over the next several months. but at the same time, the more the markets stay high because you are assuming there is going to be a be nine outco

the question is, when does that change? davidwer at all, this might be a whiff of inflation. president trump is walking into the room now for meetings. we are watching the screen. but it will come. -- the companies cannot afford to ignore the increase in the price of inputs without passing it on at some point. alix: this is the biggest increase we have seen and wholesale -- in wholesale prices since 2011. a lot came from the cost of services have really accelerated. david: tariffs are not going to help us. alix: you can probably blame them for some of the feedthrough. let's look at michael caroli of j.p. morgan securities. oli of j.p. morgan securities. what do you make of cpi, backing out food and energy? michael: definitely firmer than we were looking for. we have seen ppi run stronger than cpi for a little bit now. we would expect that to eventually flow through to hire consumer price inflation. for juneet that number tomorrow, but so far, we have not seen that pressure. we do think pressures are building. tariffs are not goin

change. we will see what happens, but i think you will see sector rotation. davidor, there is positioning that gets retrenched and it is time to change, as opposed to larger macro factors, such as tightening or a backing off of easing, such as potential trade risks or global growth risks. >> i do the micro bids. it is clear that late cycle, in and the especially, equity market generally are generously valued in the u.s. as for long values, high-tech stocks, including the faangs, if any correction is taking place, that is where you like to see it first. cycle,ith of the late you then bring in the macro and the trade uncertainty. a person recently imposed tariffs are expected to impact material costs in the second half of the year. they expect some supply chain onllenges and pressure freight costs, as well. how do you factor in the macro when you look at your call on global growth? effect onthe actual the prices of whatever tariffs you have seen. the demand effects. then there is uncertainty surrounding what else can happen and impact on expenditures. that is where t

david solomon is presumably the man who is going to change these things. you look at the performance of the stock this year, relative to the other large american banks, it is the laggard. even though everyone knows david solomon is going to succeed lloyd blankfein unless something else happens that we don't anticipate, they have already passed judgment on how quickly he can make change at goldman sachs. alix: what do you attribute the lagging succession plan to? why have they not come out officially? erik: the firm is more divided internally than most people may believe. for me, it is reminiscent of what happened at morgan stanley in 2005, when the warring factions at that firm waged their campaigns in the pages of the wall street journal. it was amazing at the time. phil ended up getting dumped, john came in. john lead the firm through the through the financial crisis and many people at morgan stanley remain happy that you was there to do that -- that he was there to do that. imagine what things might've been had philbin running the case. regardless, that

david westin is in washington. the news was what is going to change in the supreme court. u were there last night for the announcement. david: it is fascinating, the emphasis on administrative law. the fourth branch of government, these independent agencies. brett kavanaugh has issued some rulings suggesting he would like to trim back on that, and that fits with president trump progrowth deregulatory agenda. not a coincidence. alix: not at all. it is about health care, potentially going forward and even energy. david: some senators already raised the health care issue. we're going to have a great is bretting up, it kavanaugh's former boss, ken starr it was a former independent special counsel. brett kavanaugh worked very closely for and with ken starr. alix: could not be a better guest to speak with. s&p and thets, the dow had their best day yesterday in about a month. s&p futures up by about four points. the euro dollar is weaker. a broadly stronger dollar story. pretty much flat on the 210 spread. a little bit of a selloff in the bond market, more particularly in the gilt

david: i imagine the process changed from the first confirmation hearings, those seemed a lot more civilized>> they were a lot more civilized. it is a big political war where everybody comes up. i feel badly about that. david: thinking where it all started. i think of robert bork, that famous phrase you've been borked, that you were tweeted unfairly by whoever questioned you. clarence thomas sticks out in my memory. my wife and i recently had been married, he went through, we sat in awe at the confirmation hearing, he fought back. he did so successfully, while still on the supreme court. let's play a little of the sound bite for those that may have forgotten. >> this is circus. this is national disgrace. and from my standpoint, as a black american, as far as i'm concerned, it is a high-tech lynching for uppity blacks who in any way dane to think for themselves, to do for themselves, to have different ideas, and it is a message that unless you kowtow to an old order, this is what will happen to you. david: of course the race element is not there with kavanaugh but i'm wondering if it could ge

changes tonight. the fairfax county school board has been considered several modifications to make schools more secure. our bureau reporter david culver is live for us in falls church to explain these changes and sem how students and teachers feel about it. >> we'll walk you through some of the detailed parts of these proposed changes in a moment and here we are in the midst of the summer. >> we have teachers all in the summer mode. >> and they are going to be meeting here in a cple of hours and they will be focused on keeping more than 200,000. students and staff here safe. >> the images of the students trying to escape danger, haunting and so real some. west springfield high school students like xander mely and like many students they are well aware of potential school threats. this month's deadly shooting sparked our area's largest school system. fairfax county to do a school check. the school board is now considering several different ch safety ges, like new rocedures for school visitors and enhanced lockdown drills. time to happen at more random moments like lunch and in between classes. >> it's good f us, you know, how to

important that cameron had the secret meetings or that didn't go out to the public that change think tank can secretly brief david cameron because he's his friend without it be disclosed this is not only the not knowing is a system which is institutionally corrupt that lobbying is a form of institutional corruption in politics and so the question of politics is we look vulnerable yes they're much more vulnerable than they were before if one wants to think of them in that way as being victims but they are also of course participants in the system they get the money they get the trips they get the sinecures after they leave office they become advisors for the multinational companies et cetera et cetera and so it's a real problem with with that with our whole system of government it's not a question just of of breaking the law or of corruption in the sense of which people are talking but it's an institutionalized milly's insight for us in making which means that popular views are less and less listened to by government and i lead course you get a government which would be able to do to listen to them ok just to pick

david: some of that mages have to do with changing regulations.really has been the year of regulation. obviously were not want to see coordinated regulation around the world. we've been hearing over the past week south korea and japan have made moves on exchanges. dust event put up the orders last week talking about exchange operators there. we are hearing that the swiss are looking at over the next couple of months, opening up access to traditional banking services for cryptocurrency companies, which would be pretty positive. people don't necessarily know this, but sometimes it can be difficult for a cryptocurrency company to even open a bank account. these are incremental steps. later this week we will hear some evidence from regulators talking about the risk and opportunities in terms of cryptocurrency as well, so that will be interesting as well. kind of continuing incremental moves. david: we have to leave it there, eric. let's pivot and look at some of the other stories trending across the bloomberg universe and that are subscribers are read

and for somebody like david suffering from tinnitus, this therapy can be life-changing. on this fourth of july, his story also highlights the need to use ear plugs or other types of hearing protection if you'll be near fireworks, or for that matter, any time you're in a loud noise environment. >> just better off having the ear plugs in, thank you so much, very interesting. >>> we're back with a family's magical moment as their 4-year-old daughter is able to walk for the first time. >>> as any parent knows, a child's first steps are a joyful moment. and that was certainly the case in michigan as 4-year-old maya tisdale took her first steps on her own.has rebral palsy, had an operation less than two months ago aimed at helping her walk, and you can see it seems to have worked. >>> a scary sight in minnesota where a teen driver suddenly found himself in a life-threatening situation when his car plunged into a massive sinkhole yesterday. the road had opened up after heavy rains. the teen climbed out through a back window but is okay. >>> it was bad enough when part of a bour

and for somebody like david suffering from tinnitus, this therapyan be life-changing.n this fourth of july, his story also highlights the need to use plugs or other types of hearing protection if you'll be near o firework for that matter, any time you're in a loud noise environment. >> just better off having the o ear plugs in, thank youmuch, very interesting. >>> we're back with a family's magical moment as their 4-year-old daughter is able to walk forhe first time. jardiance asked- and now you know. jardiance is the only type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an

david: when you announce that deal saying you would go to commercial, are you still on that time track? >> we have not changediew on our objectives to deploy in a rideshare network in 2019. david: there have been some other transitions per you will transition out of your position after many years. it has been a privilege and pleasure to work with you. thank you for your time. chuck stephens from detroit. chrysler, outt with earnings as well. disappointing sales in china taking a toll on their second-quarter results. after the tragic death this morning of sergio marchionne, monitoring the conference call. >> the first five minutes was a somber tone. they talked about sergio marchionne. they were reading out letters and notes from analysts and journalists that had written in an expressed their concern. they did take a moment of silence as well on the call. this has set the tone to be more of a somber tone, remembering sergio marchionne. we start to get into the capital markets update for we talked about those numbers and the struggle in china. has said theonne second quarter was going to be difficult. didid say

david: the problem with the paris agreement on climate change is that it was not effective? or what was the reason why the administration does not support it? sec. perry: it wasn't fair. that china and india did not have to participate and the united states did. it does not take a rocket scientist to figure out that a lot of that technology that has the ability to change china and india's practices would come from the united states. if we affect, if we affect our -- imy -- you think about don't know if it was tens of billion dollars it would cost the united states to participate in this going forward when you consider the the paris agreement could affect on the united states economy and the president says you know what, how about you just judge us on what we do? you just judge us on the fact we are lowering our emissions and nobody else is. rome in april of 2017, sitting down with my counterparts at the g7, and we were not out of the paris accord by that particular point in time. but it was pretty clear the president was talking about it. and they got up and gave very strong

david frum, will donald trump's changing of one word, attempt to change one word of what he said yesterday, put that republican dam back together for himself in the congress? >> well, here's why the dam is in so much trouble. you cut paul ryan's quote a little short. because paul ryan went on to say something very remarkable. he went on to say, i have after saying it's very clear that russia interfered. he said it's also clear that they did not materially affect the outcome of the election. now, how can paul ryan possibly know that? we don't know exactly what russia did and we know even less about what the trump campaign did in return. donald trump with his animal cunning has always understood that it's much more defensible to say russia did nothing than it is to say russia did something but it didn't matter. that's what paul ryan and the others are now. russia did something but it didn't matter. this administration is heading toward a legitimacy crisis because what we're about to learn is more and more about what russia did. we're about to learn more and more about how important it was. a

david, given what happened, has the circumstances, has the time line changed? >> reporter: well, the time line hasn't necessarily changed but the realization is just how dangerous it's going to be. when a specialist diver, some 38 years old had come back from the private sector to dive with his former thai navy s.e.al.s, he died and passed out tragically while delivering oxygen to the boys. you might hear the ruckus behind me. this is water pump. they added several overnight, dave, to try and get the water out as far as they can from this cave system. they're pouring the water out of this cave system maybe to reduce the levels of water enough so that the boys with maybe wade out or crawl out without having to use sophisticated gear. but, you know, the death of this former navy s.e.a.l. has really put the mood down for these boys. according taa doctor who did an assessment two of the boys and the coach are in such bad physical shape they're not even going to attempt to bring them out at this stage. it's been raining on and off this morning. that really lends to

this is a president who changes his mind, as we know, and the coming days will be key to the continuing conversation on tears. david has three hours to change his mind. it doesn't look like it. thank you. jodie snyder and tom mackenzie. as the be revisiting morning progresses. the other big story, singapore is down. sophie, that is because of -- >> property stocks, a big ouch for that sector, tightening of property curbs, higher stamp duty, and limits the take affect on friday. thanks following -- banks falling with developers. a lot of pressure coming down on singapore property players. haidi: that was a shock for a lot of people. thank you for that. let's get you first word news with paul allen in sydney. >> the latest fed minutes show policymakers intend to maintain gradual rate hike spaced on a strong u.s. economy, but note escalating trade risks and market volatility as potential threats to growth. the minutes also reveal that the fomc sees low unemployment pushing wages higher, with inflation remaining near the 2% target. saudi arabia has cut pricing for most oil grades as it raced production to ensure custom

even with david davis still in tow, it didn't look like that was going to change very much.g at more of the same going forward, actually. we knew he was very unhappy. there was talk about impossibly resigning weeks ago, so it is no big shock that he has decided to take this step. but this question hangs over this sort of plan that was very difficult to come up with anyway, in the country resort of the government, in chequers, we were glued to the screen to see what they would agree to. no word from boris johnson, jacob rees—mogg, already, one of the conservative... the arch brexiteers, yes. he has said the writing is on the wall. will she replace david davis, and if so, with her? there is a lot of suggestion that michael gove will be the sort of replacement of david davis and he has put himself out there as the brexiteer that remainers can work with, which is a convoluted sort of statement. most of this is about how civil servants negotiate between each other and mr davies's nose was put out ofjoint because the chief was moved into number ten, away from him. ithink was moved