here's what david taylor told me "i will continue to listen to nelson as i listen to all shareholders i asked him given the track record and the experience in consumer companies yshgs not add him to the board here's the direct quote from david taylor he says, "there's noggin kremental that pelts has offered. i want to prevent anything from derailing the work we're doing we have a rigorous selection for board membership the fact that he has good advice doesn't mean we just add him to the board. i pressed him, why not taylor said, "what pelts tends to do is bring a number of folks with him manage ment would have to spend a lot of time briefing them to have a group come in to be a shadow management team to p & g is not what we need right now. taylor went on to sashgs "i respect respect peltz but we have to move on and we have the right plan and portfolio." taylor says that is being shown by the troults dresults today. reaffirming the outlook. we talk a little bit about the portfolio. taylor said two trouble spots that he specifically wants to address, diapers in china which he needs to g

marine died in syria. 25-year-old david taylor was killed on july 16th in raqqah. his father confirmed his death to the associated press. taylor is one of three americans killed this month fighting with kurdish forces. >>> there are disturbing new details on an alleged terror plot in oakland, california. federal officials say a 22-year-old who was arrested last year conspired to kill 10,000 people across the bay area. he's accused of plotting to blow up gay clubs in san francisco, plant bombs at the university of brkly, set fire to the berkeley hills and sell cocaine laced with rat poison. he also planned to join islamic state fighters abroad. the lawyer for the young man said he does not support isis. >>> katie ledecky took her straight third win and nabbing her 12th win to pass messy franklin in swimming championship. she won her semi-final about 45 minutes after this race. bragging rights she's got right there. >> so talented. only 20 years old. >>> now to some weather. in china some incredible flash flooding that forced 600 to evacuate. ine las vegas commuters

army my real name is david taylor. so for her arms room on the floor of the united states of america i join the wife to do to fight isis and do whatever i can to help the revolution here taylor is a third of american killed this month while fighting with the u.s. backed by p.g. in early july two that the twenty nine year old nicholas allen warren and twenty eight year old robert groden were also killed while fighting alongside the u.s. backed kurdish militia units grow it was a u.s. army that and former occupy wall street activist. a former house i t. staff or enron was arrested in washington's dulles airport on monday and juan is charged with bank fraud and pleaded not guilty but he was also accused of different violations stealing equipment of democratic members of congress and that's while having direct access to files and e-mails of dozens of lawmakers are elects here she has the details on monday a former house staffer iran a one was arrested at dulles airport trying to leave washington d.c. for pakistan charged wi

david: thank you very much. taylor riggs with a market update.emocrats are about to unveil a new strategy called a better deal. there outside of washington, d.c. what to party leaders want to do differently in the 2018 campaigns? we are waiting comments from jared kushner. he is scheduled to speak outside the white house after meeting with the senate intelligence committee earlier today. we will carry those remarks live. this is bloomberg. ♪ david: this is "bloomberg markets: the trump economy." i'm david gura. we are awaiting comments from jared kushner, president trump's son-in-law and senior adviser. he spent the morning at the senate office building. to senate republicans and democrats on that. lets you were jared kushner has to say. -- let's hear what jared kushner has to say. mr. kushner: my name is to kushner. -- jared kushner. i'm senior adviser to doesn't donald j. trump. when my father-in-law decided to campaign, i served the best i could because i believed in him and his ability to improve the lives of all americans. and now serving th

the fact is that david taylor is a gentleman. he's a guy have the upmost respect for. we spent a lot of time together and the fact is when i met with him the first time they said why don't i wait a year before asking for a board seat and see if things don't go well. i said first of all a year isn't a good judgment factor the fact that i asked the targets is not accurate because if you look at the he e-mails i can provide you, i say we're looking for 2020 i'm looking for p&g in 2030. i want boards and management to act like their entire network is tied up in that company. that's what we're looking for so we're not looking for the next quarter. we want them to wear bifocals. the next quarter is important but what you have to really keep your eye on is the long-term and if you take a look at png and say if 5 billion of the bottom line between now and 2020 and they grew along with the market and you got your dividend that might give you a tsr of 15%. i don't think they're going to do that. we're thinking about where is this company going to be beyond 2020 how are they goin

the commander of the sixth district david taylor met us at the site with the environmental crimes unit >> the police have made 50 arrests with the illegal dumping and them involved involh office the city came out and clean-up is underway. we will keep an eye on the property. the neighbors will too. >> quit treating d.c. like it's trash. out is not trash. >> look live and there is a difference from last week. we wanted to say a big thank you to everyone two helped us take care of this. a team effort. if you have a big trash pile d.c. can fine you so clean it up as soon as you can. larry: a big difference. thank you. new information tonight about a plan to build a natural gas pipeline through virginia. west virginia and south carolina. th impact statement on the atlantic coast pipeline and it found 600 mile pipeline would have adverse effect on water, forest and other habitat. dominion energy says it provides a clear path to get final approval next year. larry: we have new developments in the debate over charlie gard's future. cit iticly ill -- critically ail baby boy in england that wan

. >> of david taylor, the person. >> he's very good. i respect the cfo. this is a true dilemma tough space, really great company. no one ever got yelled at recommending proctor but then when you look at the shareholder return, they are not in the playoffs, guys. they are not making the playoffs. >> leslie, last word >> this is interesting, what he's not pushing for he's not pushing for a breakup of the company. >> no. >> he's not pushing for an overhaul in fact, he's not even pushing to place the current director on the board. so i think that's why you're not seeing as much of a reaction in the stock price today because he's not really asking for that much he just wants a seat at the table. >> though, we will see it, as he said, don't pay so much attention to the skinny white paper that they are going to put out. >> right. >> a big one >> that's why i think you should be in the stock. i think the dollar is -- steph, you disagree with me >> i do. >> we have kids so i can never recommend -- >> can you imagine, hey, i saw you. you mind if i go with marlboro,

no change in ceo i think david taylor who took over about two years ago is doing a great job.nts more immediacy in terms of earnings growth the problem is this, is that proctor's basically been pruning its portfolio trying to get more focus in terms of what it focuses on, and that has driven earnings, you know, pressure in addition to all the fx head winds that we've seen and large cap consumer staples, no company has grown earnings because of the fx situation >> so what's possible here >> i just don't know i don't think it makes sense i don't think it's going to change anything if he gets on the board. the sense of urgency within the companies has elevated since david took over. >> not a catalyst for you? >> not really. obviously you have to go through a very extensive proxy battle. second, even if he gets on the board i'm really not sure how he's going to all of a sudden miraculously make fx headwinds stop >> so would you tell shareholders to vote against him? >> well, i -- i don't -- that's really not my place. but i just don't think it's going to make a big change in how p

. ♪ david: this is "bloomberg markets: the trump economy," i am david gura. taylorgs is here with the latest. taylor: not a whole lot of conviction in either direction. the dow jones mostly flat. the s&p 500 up a little bit. nasdaq off the reports of books off the report 6% aztec leads the way. bloomberg big smart view peace out saying the unemployment rate in the price of global commodities is positively correlated and those are falling. and oil as tandem where mentioning. as oil drillers are down prices continue to fall and they are down the first day in nine against any production cuts and want to keep the existing opec deal so they do not confuse the market. the 10 year yield, we are waiting the fed a minute meetings then released at 2:00 p.m.. thed income, looking at yield and it was done a little bit on a news corp. -- north korea launched the missile capable of reaching the u.s. we were up about 10 basis points. david? david:. aps of breaking news. c -- a piece of breaking news. is considering buying a minority stake in commerzbank and has not made a statemen

david taylor tells me he respects peltz and will listen to him as a shareholder but "there's nothingncremental peltz has offered. i want to prevent anything from derailing the work we're doing the fact he has good advice doesn't mean we can add him to the board. when i pressed taylor on why not pay or wi taylor said peltz brings a group with him and to bring a shadow management team "isn't what we need" so both sides making the case to investors today and likely will continue to do so until the company's annual shareholder meeting this fall around october, tyler. >> all right, thank you very much, sara >>> shares of ethan allen getting a nice bounce but they're double digit down this year the home furnisher betting on a partnership with amazon to expand its reach wi ipay llt off? we'll talk with the company's ceo next >>> time for your business of the week water bottles are getting a luxe upgrade. sara launched s' well. she wanted a water bottle as stylish as the rest of her life. now water bottles have become the must have fashion item at fidelity, trades are now just $4.95. we cut

. - [david] hello, i'm davidid. - taylor. - hi taylor. and? - grace. - grace. - mary. - hi mary. nice to meet the three of you. - [livia] the homemade video taylar, grace, and mary produced on distracted driving took first place. as part of their prize, a professional video crew will help them turn their idea into a psa, a public service announcement, that will air on national tv. - we have some storyboards that we've taken from your already beautifully done video that we've seen. and we use these so we can structure what we're going to be shooing today. a lot of this to make sure that we don't miss a shot. a lot of it is just to make sure we have continuity and that we all understand what we're doing, 'cause we'll wanna be on the same page. - so it's about kelsey, and her two friends. - and her friends are at school, at their lockers, and they're talking about going to a party that night. - they're all excited for this party. - and really they invite more friends to come with them. so we, you know, we have a big car, but we don't have quite enough seat belts. - kelsey does not u

david taylor, the ceo will be speaking on the earnings call at 8:30 first public statements since this will be very interesting to hear why they don't want him on the board and how they're defending themselves the numbers today was a beat on the bottom line but that was driven by cost cutting the top line was pretty much a match and pockets of strength in beauty but pockets of lower in grooming. >> low margin business, global, currency fluctuations, i can't imagine. we've watched it both from cincinnati, sara, for years. tough to get the right ceo in there as well. they brought the old guy back, remember they couldn't find anyone new. >> and he -- i mean they went through a major cultural change, that's what p & g would say. they spun out 100 brands to make it a leaner company. they haven't managed to get the company growing again and the shares performing again. they also have underperformed the broader market and the consumer staples index so do they need to look outside? interestingly peltz does not advocate for changing management he's backing taylor. he's not advocating for a brea

taylor riggs. this is bloomberg. david: thanks so much. will not be any for further retaliation against washington. moscow ordered the u.s. to slash staff at its diplomatic base in russia by two thirds. by daraghned mcdowell. what kind of effect is this going to have on the u.s. diplomatic presence in russia? >> it is going to significantly downgrade the u.s. diplomatic presence. going aree people going to be technical staff on the ground, we're talking russian citizens employed by the u.s. embassy. this is going to affect things such as these applications. this means visa requests are going to stop taking weeks and start taking months. this will downgrade some of the u.s.'s intelligence gathering capability through their embassy. the russians have not specified which personnel are going. there is some flexibility in what the u.s. can do. any organization facing a two thirds cut in its staff is going to find its capabilities significantly reduced. david: we are talking several hundred individuals. the president does seem to be ready to sig

taylor... to cameron diaz. cary grant... to george clooney. grace kelly... to sandra bullock -- all acquired by david'sher, harvey, and his aunt rhoda. is this all of it? >> oh, this is just the tip of the iceberg. ♪ >> the story of these signature-seeking siblings begins in brooklyn, new york, in 1938 when rhoda kuflik is born. little brother harvey arrives three years later. as the children of hardworking immigrants, they're often left to entertain themselves. luckily, it's the golden age of the silver screen. >> they spent a lot of their free time going to movie theaters. [ film reel clicking ] >> and shooting their own home movies. hey, that's sophia loren... and tony curtis! in the 1950s, you can spot as many stars here as in hollywood. so rhoda starts a new hobby -- autograph collecting. >> this right here is the autograph book that started everything. >> perry como to start it off? "1953, april 6." >> we have a jackie robinson... henry fonda... lucy and desi. >> amazing. both of them. what a gem! soon enough, rhoda's dragging along her kid brother, harvey, on her autograph hunts. how do you thin

two divisions have been all—seater ever since lord justice taylors inquiry into the hillsborough disaster in 1989. let's bring in our reporter davidly emotive and delicate issue when it comes to liverpool beacsue of the detahs of their fans at hillsbrough the club has always been against the diea of safe standing though this would change anything? they've always been on the same sake of the hillsborough family support group. we've always been against it and actor or knowledge to this point still against the idea of safe standing. the club have trodden a filler diplomatic line in all of the same listen to their fans views and at the moment this is all hypothetical. it is a fairly significant today potentially because the size of this vote in itself, almost 18,000 people were polled, 88% of them were in support of this. those included survivors and their families and of this. those included survivors and theirfamilies and it is liverpool's largest independent supporters club. we should take note of this. the idea of this coming to fruition is still some way off. and what is a rail seating? it's proven to be popular in europe and in

taylor riggs. this is bloomberg. david: thanks so much.rs wrapped up their two-day summit over the weekend in hamburg. they managed to paper over the differences entree, vanessa much on -- on trade, but not so much on climate change. joining us is germany's government reporter for let's focus specifically -- reporter. let's focus specifically on trade. was this a win for merkel? >> yes. it is also a win for donald trump because he got language that seems to open the way to punitive tariffs under very general conditions. you could say it was the usual summit artistry of finding a final communique that avoids a blowup. with this u.s. resident arrayed against the world on climate change for example and given the history of the g7 and nato summits not long ago, there was apprehension. the europeans seemed to have molded this into a compromise that gave wins to both sides. the europeans got this commitment, and the rest of the world, china was in on this, that this commitment on open markets in principle and for the u.s. to take on this morning

david: not the first person to discover that. hill so really answer -- kevin cirilli and sahil kapur. taylor riggs is here with the latest. taylor: not a whole lot going on and it felt like a quiet monday in july. the s&p 500 up for its second day in a row. i would point to the nasdaq up over 4/10 of 1%. that tech heavy sector continuing to make small progress, rebounding from the highs it made a month ago. i want to look at the s&p 500 tech sector that is making one of the largest gains of the index. and then there's a few individual shares i want to talk about. i will start with nvidia because it's up the most over 3.5% on the deal with toyota. nvidia will play a key role in toyota's push to autonomous driving. some analysts saying that nvidia could get a heap load of cash. i will be watching that stock. some other commodity asset classes that we are looking at his gold. the interesting thing here is that gold spot prices are not doing much, but gold stocks are moving. this is on reports that gold and copper stocks do better in a tightening environment. this is the bank of canada's expected rate increase on wednesday. t

david folkerts-landau will join her in the next hour. here is taylor riggs.'s leader calls his country's first-ever launch of an intercontinental ballistic missile a north of july gift to america. the trump administration sees it differently calling it a new escalation of the threat to the u.s. the u.s. and south korean troops held missile defense drills today. leaders signed off on the exercise. areran american diplomats concerned about friday's meeting between trump and putin. they are worried that this could be a mismatch. the two are meeting in germany at the g-20 summit. a new suspect in the downing of a malaysian airliner will be prosecuted by the dutch government. the decision was made by the -- theretor for the are no suspects so far. and crude oil has dipped in the as russia saysur it wants to stick with the current opec deal and would oppose any proposal for more production cuts. one said that anymore cutbacks the the deal would send wrong message to the oil market. opec ministers meet later this month. global news, 24 hours a day. powered by our mo

taylor: coming up tonight on the david rubenstein show, an interview with paul singer, at 9:00 p.m. to your bloomberg business flash. at&t showing it can handle looking at giant more subscribers in the second quarter which will help it bided time while waiting for regulatory approval of its $85 billion takeover of time warner. and glaxosmithkline ceo putting her stamp on the biggest drugmaker in the u.k., allocating capital to fighting hiv,ments for respiratory, and other disorders. it posted second-quarter earnings that beat estimates. that is your bloomberg business flash. jonathan: thank you. joining us for more on glaxosmithkline, the chief financial officer. great to have you with us. thank you for joining us. we will begin with some reaction. they have called today's numbers on inspiring, bernstein has referred to gsk as safe and steady, but hard to see the upside. are you satisfied with that description of your company? is that ok? >> no. i think we have made good progress in the last quarter, and the first half as a whole, excluding the priorities to drive the needle. contin

david: thank you very much, .mbassador peter wittig oil and bonds have been making news today p let's get a check with bloomberg tayloriggs. taylor: we are off the lows of the session and still seeing some red on the screen. i would point to the nasdaq and we saw yesterday a little bit of a relief rally in the tech heavy sector. taking the, some gains and turning that lower as well and i also want to look at the 10 year yields. it is up 23 basis points in two weeks, up five basis points today even after the fed yesterday came out with those minutes and talked about how they were divergent. i want to start unwinding the balance sheet. you see the 10 year yield a little bit higher even as the jobs data tomorrow. the higher yields are helping the insured. they sometimes invest in long-term bonds to help match the assets and liabilities. year,higher equities this helping to boost those companies investment earnings. you are seeing some of those insurers gain a little bit today. the other story we are talking about today is oil. you saw a pretty big bounce right here around 11:00 a.m. when inventories came out. than expect

taylor riggs. this is bloomberg. guy: thank you very much. talks underwayit in brussels again with the clock ticking down. davidrogress in the future rights of u.k.'s citizens living in britain and britons living in the eu. more now, we are joined by him which are. they told us this morning at their opening ceremony around to that progress would be made -- two thatof round progress would be made. what progress will be made? >> they did not say much. they just said the clock was ticking away. they really need to focus on this issue of citizens rights. how to protect the rights of citizens in the u k and e u euer brexit -- in the uk and after brexit. until the get progress on those issues, we cannot see vstoxx making any progress at all. understandhard to what the lie of the land is in london. does that make the talks in brussels less relevant or less important considering we don't know what the future a little direction of london is. >> i don't think you could underestimate the importance at all. i think there are very important. you get the feeling from the eu side and looking at the shenanigans in westminster,

ruth taylor, executive director of the newport historical society, catherine robinson, president and ceo of historic charleston foundation davidgarden and library. beth hill of for tying of new york, and betty joe of the delaware tribe of indians. [ applause ] >> and now i'd like to introduce the members of the board of directors of the museum of the american revolution. will you raise your hands so everyone knows where you are and that you are here today. [ applause ] >> these are the volunteers who have guided and sustained the multiyear initiative to create the museum. and now it is a very great pleasure to welcome the mayor of the great city of philadelphia, mayor jim kenney. [ applause ] >> good morning, everyone. i can't tell you how proud i am as a native life-long philadelphian to be standing here in front of this building and in front of all the great dignitaries that have come here today. i just personally very much honored. it's fantastic to see so many of you out there helping us open this exciting new addition to our city's already thriving historic district. those looking to find out more about the founding of th

david speaking to me earlier. it was back to training for some of the england squad today, preparing for their semi—final in the european championship. jodie taylor play hosts the netherlands in the last four on thursday. they are called on the ball. they have shown at this tournament that they can play well, the wingers have been playing well and we have two stop that. there are places to exploit, especially with someone likejodie up exploit, especially with someone like jodie up top exploit, especially with someone likejodie up top scoring goals. all of our scholars have scored in this tournament and it shows that they had to be ready for us, but it will bea had to be ready for us, but it will be a different task and we will be ready. england preparing for the semifinal of the european championship. that is all the sport for now, more in the next hour. thank you very much. it was one of the most deadly battles of the first world war. half a million men on both sides of the conflict were killed, injured or listed as missing. the horror of the battle of passchaendale is hard to imagine — conditions were so appalling that many people drowned to de

david: paul richards will be staying with us. we will be joined by democratic senator dick durbin of illinois. live from new york, this is bloomberg. ♪ ♪ taylor is "bloomberg daybreak." t's agriculture business gave an unexpected move on earnings. pesticide revenue rose 10%. the merger is expected to be completed next month. the new company will be called dow dupont. michael kors has agreed to buy jimmy choo for $1.2 billion. the brand had high-profile brands like princess diana and carrie bradshaw in sex and the city. jonathan: thank you. greece is returning to the bond markets after a three-year hiatus. the debt crisis forced them to seek multiple international bailout. the last time they came to the market was with five-year money at a yield of 4.94%. they are seeking 7 billion euros, what sources are reporting. will this be characterized as a successful return to the market? is this a success for the prime minister? >> i am sure he will characterize it. i think the market is saying what have they achieved in the last three or four years? 4.95%, ihing goes at would say the market would say that is not a success. the ecb will probably buy s