delta lloyd has rebuffed the unsolicited offer.y are trading lower on the news while delta lloyd is higher. tesco has reported first half earnings that beat estimates sending shares higher. operating profit rose 60% before one-time item. chief executive officer dave lewis's plan has gained traction. his brought growth by cutting prices, narrowing audit ranges and improving customer service amid a price war. google is embarking on a wholesale revamp of its mobile phone strategy debuting. it will go head-to-head with the iphone for the first time. they are the first phones that were conceptualize, design, tested in-house. they feature a virtual assistant. that is the bloomberg business flash. francine: make -- thank you very much. jeffrey goodlatte has sounded off on the to bank. it's not -- it highlights the impact. yesterday at the investment conference, goodlatte said that if you keep these negative rate policies for a future period of time, you are going to bankrupt these banks. deutsche bank shares have felt. richard jeffrey is

there was a bid for delta lloyd, $2.7 billion. says there is a clear and compelling logic to bring consolidation to the marketplace in the netherlands. and we finally finish with ranko. yesterday, and one investor says he quite likes it -- i'll central banks would be valued if they got the opportunity. 2%, the linen over in the gold story today is that a slow trickle has turned into a moderate exit. guy: we will talk about that later -- the timing is interesting, the lack of speech but maybe that indian central-bank move was a little more important when it comes to what's happening. catch manus on bloomberg radio with anna, who will all be talking about what we are all talking about, what is happening with sterling which is out -- which has been smashed over the last couple days. the u.k. benchmark failed to hold the games in the auction, but remains on the cusp of all-time highs. the auction process had a little selloff, i touched toward the all-time intraday highs. we are joined now from royal london asset management. would you

down 27.97, bidding for delta lloyd. program. a divestment up by $10 billion.rstand they are going to sell the business for over $3 billion. do we have an opening price for deutsche bank? three weeks ago, it took a question that he would come to the market for capital. john cryan's word. stock up .3%. credit suisse as deutsche bank -- credit suisse adds deutsche bank to its performing stock. with that in mind, the question for the markets is this, will they support and equity raising? they have 10% of deutsche bank. it is going to be an important part of the question. manus cranny off of bloomberg radio. deutsche bank working on an ipo. this comes as a report suggests the embattled member is holding formal talks with is pretty firm to explore crises management options including capital raising. news -- clearly a number of options are being explored. talk to me about how those options are set up. what are the most likely? >> it is been an exploratory stage. they are assessing what could be the option based on what the final legal bill comes to in terms of boosti

shares and delta lloyd are trading higher on that news.dea bank proposed merging with abn amro early this year that is according to a person with knowledge. it would've been the biggest bank merger in europe since the financial crisis. nor day it says it never comments on -- also declined to comment. rio tinto says that mongolia will not receive any dividends from the giant mine for 10 years. the world's second-biggest mining company prioritizes an underground expansion. it will be one of the top copper mines in the world. >> delivered any dividends to anybody. we should not forget that it is a long-term+++ remember the underground is 80% devalue of the project. -- 80% of the value of the project. to be able to pay dividends, you need to be profitable. until we get to a steady-state which is 10 years down the road, we will not pay dividend to anybody. marcus: that is your bloomberg business flash. they know -- nejra. nejra: it is jobs day in the u.s. investors will be focusing on the numbers out at 12:00 noon u.k. time. rate jumped to 64%

. >>> dutch insurer nn group made a $2.7 offer for delta lloyd. nn said it offers 5 euros and 30 cents per share for the firm. nn group says it has repeatedly sought contact with delta lloyd's board but has been rebuffed. the company will update on the progress of the deal within four weeks. >>> asahi is planning to offer 500 billion yen for sabmiller's businesses in the czech republic, poland, hungry, slovakia and romania. as biing for sabmiller's eastern european assets will happen next week. >>> four bidders are battling for unicredit's asset manager pioneer. amund ish amundi and another a seen as the front-runners as they move to the second round of bidding. aberdeen asset management are also in the race for the unit. all of the companies declined to comment on the reports. >>> shares in abilene air berli opening higher after talks of selling its touristic business. air berlin last week announced plans to cut over 1,000 jobs and halve its fleet. an indian air carrier is also looking to offer passengers the option to sit in a child-free zone. o

delta lloyd rejected nn group's 2.4 billion euro takeovered by. the board said the proposal undervalues delta lloyd. >>> amundi reportedly raised the bar in the race to buy pioneer investments. the french asset manager has made a higher than expected $4 billion euro bid for pioneer whose value was previously estimated at 3 billion euros. there are also three other bidders. the post office is now looking for an additional partner to sweeten the offer or good join forces with aberdeen. binding officers are due on november 3rd. and a final decision will be made after it leaves referendum on the 4th of december. >> time to get ready for winter and focus on posh winter outfits as we focus on moncler. it initially produced quilted sleeping bags, but is now popular for its signature down jackets. remo ruffini took the brand over in 2003 and moved the headquarters to milan where it listed back in 2013. it's not all about trendy down jackets. they are focusing on growing sales of accessories including sunglasses. moncler announced it is bringing in two for

the delta lloyd rejection. we will get more on that, including the reasoning. terms are not acceptable, so the basis of the deal is not acceptable at the moment. anna: let's talk a little bit more about the pound. we have a couple to show you. in fact, this is the move into the session. manus: it is down 6%. this is the risk radar. i think the big issue in the market will be this. the pound dropped to 6% and on one exchange, it dropped to 1.13. how many margin calls have been there and how many stop losses have been revoked? there has been a great deal of arbitration over what traits des stand in the market? er,a: yes, that pound is weak but not as weak as it was. the dollar index is there for you, up by .2%. of course, it is jobs day in the usa. on any other day, we would be talking more about that, but events in asia and the pound have changed that. $1250 they say you will see an opportunity. we can see gold tumbling, but the etf, the actually buying of bullion, that is rising. and on ftse futures, we have a new record. will that relationship hold? anna: down

delta lloyd has been in place for the year. i have some capital concerns. expected to continue. nejra: what do the two stories tell us about consolidation in the banking sector? >> i think it's two separate stories. --have not seen can consolidation in quite a while. that may be heating up. markets,tch insurance consolidation has been spoken of for a long time. there could be other players also in play. with: is any of this to do the low rate environment we see and the challenges facing banks across europe as well? >> very much so. they are cutting into both banks and insurers profits. they hope to survive. nejra: thank you so much. thank you for joining us in london to take us through some of the action of m&a in the netherlands financial services sector. affirmed asche bank report from a friend were newspaper that they may be meeting with representatives of the doj. there is u.s. litigation. the outlook is negative. coming up, round two is sunday night for hillary clinton and donald trump. they are strategizing for the debate. this is bloomberg. ♪ nejra: