what are you seen across diageo? if trading oil was a little bit easier over the last quarter than it has previously been? that madereat story $500 million in one day trading oil. quickly, bpint out cut its dividends. forecast actually had that we had estimates that come out and bloomberg did say it expected bp to cut its dividend. it also expected the yasiel to cut its -- diageo to cut its 42.47 to 30.85 pence. it was wrong about that. it looks like diageo is less in dividends, the final dividend is at 42.47 pence. this has been one of the big arguments for diageo for shareholders to own the shares, that has an decent returns compared to others in the alcoholic beverage industry, like for example -- has a better return than they do in the shares. they have done much better than they have over the past two years. diageo has come out with sales growth's that are lower than were anticipated. organic net sales growth for the full year was a drop of a .4%. i think a lot of investors are looking for diageo to have a sweet

diageo shares are slumping after a report that missed estimates.hareware hit hard as the pandemic led to the closure of bars and restaurants. -- throughs and e-commerce and supermarket purchases failing to fill the gap. >> what consumers want most coming up to the lockdown and these conditions is meeting up with family and friends and going out to a bar or restaurant or a festival. , we human motivation believe is going to endure, and as conditions improve, we will see consumers go right back in. but what we're doing in the meantime is creating the experiences at home. one of the things we have seen is cooking from scratch and baking has picked up. so we have moved right into that space on social media and digital engagement, and we have seen a very good response for market like china and into the united states, doing better. johnny walker, there's a program called kitchen drinks, where online we look at what ingredients you have in your fridge at home and design cocktails that you can make at home because there is a huge desire to get bar quality

. >>> no cheer for diageo as sales disappoint weighed down by revenues in soung africa the brewing giant refuses to offer guidance for next year >> the pace of recovery, as you point out is uncertain and is very local >> infin yan shares jump as they point to a recovery in the chip maker. the outlook is improving >> within automotive, we have seen recovery. also korea we expect that the worst is behind us. the three-way deal, president trump says the u.s. treasury should be paid a substantial amount of money for facilitating the part of the bid of the chinese app tiktok >> i think maybe a deal is going to be made it is a great asset but not in the united states unless they have the approval of the united states >> a very warm welcome to "street signs. let's get right to the market action trading has been under way about 60 minutes and has been a very turbulent hour currently about 25 basis points below the flat line. we have crossed into and out of positive territory the results front, some companies actually offering a fairly optimistic recovery on the outlook. getting investors confide

of diageos ceo talking about what happens for the alcohol industry during covid.ant to head back to francine in london with her interview. we think that the audio is better. >> we love working across satellites, across regions. him abouting to ask -- if you can hear me, do you think you buying this new company means we will be seeing more cross-border mergers? >> can you hear me? if you can hear me testing live can you talk to me about cross-border mergers? it is too early to talk about for the european landscape. there aretion is that a lot of areas in which fridge you have some more clarity. the possibility to have theetries emerging -- for european landscape. [indiscernible] my expectation would be to look at some areas of wealth management. a strong franchise and wealth management protection. [indiscernible] >> do you think that there is possible cross-border or are the various players going to take a bit of a breather? competitorst some sure there are some that aren't in not such a good shape. it is possible there could be some acceleration, but it will not b

ceoie: that was the diageo speaking earlier.till ahead, we will speak with d'wayne edwards about how he is staying one step ahead of changing consumer behavior, adjusting to a covid-19 world. this is bloomberg. ♪ vonnie: this is bloomberg markets. i'm amanda lang in toronto. change is a in the shoe business sector grapples with changing consumer behaviors as a result of the coronavirus. focused onards is making strides in diversity. of pensoleounder footwear design academy. he joins us now from portland, oregon. thank you so much for joining. another reminder today of the difficulties in retail. ralph lauren down 7% in the market. pressure every which way you look. what is the message you gave today at the virtual summit that you held? what were people saying? d'wayne: the conversation today is really about how we can look at diversity and inclusion, as a way to be a part of their business. in order for it to succeed, not ement," in ecb integrated into the way these companies do business. once they do that, they will see a great

ticket i would so we're back to the stock funds to make sure that we are able to see through it and diageo. the madras crocodile bank opened over 40 years ago and has spread some 5000 crocodile since the park is now started to crowd funding campaign to help the reptiles survive but it's not just money that's missing. there are some colleagues here walk water in dining right now as a row and since this stuff works on the surface it's kind of it's men difficult because there's a lot of walk a lot and we need our full stop to be present because we have a lot of animals here. to make sure that you and reptiles don't starve and to enable the park to continue its conservation work stocks have also looked at another way of raising funds launching a huge cheap channel to turn the crux into. say look it's all the latest developments in the corona virus and demick the number of confirmed cases worldwide has passed 20000000 that's according to a tally by the johns hopkins university or than half of the cases are in the united states india and brazil the us administration is reportedly considering blo

that was the ceo of diageo. this is bloomberg. ♪ >> ♪ you are watching daybreak australia.r investors to watch today. indonesia is second-quarter gdp. >> we also have singapore retail sales. pulling up the board, s&p e-mini's, little change to the downside. rallying stocks in mumbai, india expected to lead the gdp contraction. bond futures in australia are settling higher. treasury futures continuing to edge higher. traders are watching for signs of a reckoning. volatility at an all-time low. the dollar changed in the asia session. the dollar's track lower has seen a correlation with asian stocks hit a strongest on record . a soft dollar has been a boon for emerging assets. a, one cautioned that a prolonged path to a vaccine would boost the odds that liquidity support would be's -- would be higher and that lifted the dollar. >> we have breaking news when it comes to the new zealand labor market. the unemployment rate dropping 4%. that is better than 5.6% that was expected. also better than the 4.2% in the previous quarter. the partition -- participation rate is what is expe

staying with the consumer sector, diageo saw sales slump as bars and restaurants closed around the worldr market purchases plugging the gap. revenue came in worse already than lower expectations and felt 8% in the last year. seeing anid he's improvement. >> two things consumers want conditions isese meeting up with the family and friends, and going to a bar. motivation was going to endure. as conditions improved, we must go right back in. what we are doing in the meantime is creating the experiences at home. one of the trends we have seen is cooking from scratch and baking. so we moved right into that space on social media and digital engagements. we have seen a very good response. walker, because we have a program called kitchen drinks, where online, we look at what ingredients you have in your fridge at home and design a cocktail you can make it home. you can get bar quality cocktails at home. consumption, they have not gone up. we have seen per capita consumption come down for a long time. we stand very much for drinking in moderation and drinking sensibly. you have seen the shift fro

my observation is that diageo has done a good job with some of these things casa amigo has done verysort of our model in many respects you mentioned diddy. there are so many examples of celebrity engagements with brands that have not ended as well within the industry it's hard for me to speak to those other than say those are some great examples. for us, i would say ryan reynolds is obviously a celebrity. he is an a-list hollywood superstar, sexiest man alive he's got all accolades and titles but the world knows ryan as an amazing actor. i think they created $1.6 billion two movie franchise. that's extraordinary now they've seen the creative genius of ryan and george and others and our team collaborating with aviation gin. what the world probably hasn't seen is that ryan has an unbelievable work ethic, roll your sleeves up, in the trenches >> text back and tell him to join you next time you come on closing bell quick final question aside from the deal about trends you've seen in 2020 and during lockdown have we seen a particular interest in consumers when they do decide to drink at h

diageo, rudge, jiough, jim. >> what a show take two unbelievable, b & gmp and figur for david how anil company become as company that doesn't produce carbon working on it. haven't come up with a solution. yes, i think microsoft should pay the key money to the president t. is 30 years do it over 30 years. >> fine. okay. >> a long time. >> greg once said, a cut, just like the president okay he's head of m & a. >> jim, see ya later. >> farley building -- it's a farley day >> welcome to "squawk on the street." i'm carl quintanilla and factory orders, get to rick. >> yes factory orders month of june expected eed up 5% a beat, 6.2% following an 8% rise prior to that, historic low minus 13.5%. an april number. go through it. ex-transportation. still up 4.4%. these numbers are pretty good in that 8%, talked about it on headline, downgraded on revision to 7.7%. for the june final read on durable goods, which means they have a mid-month read we will toss up. expecting 7.3% ended with 7.6%. 7.3% mid-month read. tossed now replaced up 7.6%, best since may, which was 15.1% followed, of course, th