came to dubai because i believe so that dubai's the place where you can get a lot of opportunities f a job. you can grow professionally here way much faster than somewherero in . it's way much harder in europe. for example, in slovakia, it's,, it's just-- more people are jobless than ine dubai. here by myself and if nd a job right away. and i just took took my cd and i [indistinct] r a couple of restaurants and they gave me jobsnowhere like dubai, righ only new york. ha! ha ha ha.[m usic playing] i just got my dream job, whh means i'm gonna travel the world and i'm gonna become a cabin crew, after a hard time i had applying 7 times and i never got a chance. i finally beat it and i'm finally gonna be there. so, yeah, see you in the air, then. mostly dubai is like, you work, and then you go out and you go party. you spend all your money. uen you go back to work. try to reach again the point like when you get your tips done, your money done. and thent you go y again. and there's just a couple times where you have time to go to sleep. here are the pictures with myro friends, fmy last par

manus: and i'm manus cranny live from dubai. these are today's top stories. anna: mexico turns left. the peso gives a early gains as exit polls show a line fled -- a landslide victory. we are live in mexico city. bmw's trade warning, the carmaker joins gm in a lobby against auto tariffs, while chinese pmi's signal weaker exports. and judgment day, the german chancellor holds migration talks with her coalition partner. can't she swerved a government crisis? -- can she swerved government crisis? anna: good morning. 9:00 6:00 here in london, if you are in dubai with manus. let's talk about asian equities. it has been a fairly negative one. we have hong kong out of action, but generally we are weaker, down 0.3 percent. this has been the story of the second quarter. we have voices joining the trade conversation, it in particular from the very networked car industry. we have the g.m. ceo speaking out, bmw, plenty of voices. mean rise, the chinese currency continues to weaken. the dollar is stronger. we are seeing asian fx weakening, in general it many voices say th

it is 10:19 in dubai with manus.united states for much of the trading day because it is independence day in the u.s.. we won't pay to much attention to what futures tell us at this stage. european futures are part of the story. down by a quarter of 1%. we will keep an eye on those because the asian session has been a little lackluster. we did not see the selling like we did yesterday. a little more stability in the chinese currency. let's get a bloomberg business flash with juliette saly in singapore. juliette: the ceo of -- following almost $3.5 billion in losses. more jobs may be cut and jet orders are in doubt after a six-month review. he told manus that demand for travel is higher than it has ever been. failures,ill be more that can began teed. there will be failures this year and next year. there will be more startups this year. there will be more startups next year. the key take out for me is the fact that there is more demand for travel now the numbers ever been. a chinese court has banned chip sales by micron

it dubai being the most famous. the federation was formed in 1971. the father of the nation passed away several years ago, but he established the federation. we have a population of 10 million overall. we have a wealth of resources, particularly the oil and gas field that has been the foundation of the economic development. the oil and gas is finite, and we have to prepare herself for the future. the leadership is focused on maximizing benefits and returns from this resource, but at the same time build a diversification strategy for the future. that's what you have in the uae today. david: your economy is dependent on oil, 50%, 70%. khaldoon: oil represented 70% to 80% of the gdp. we have been able to move the economy where the concentration is less than 35%. we are still a long way away, and the focus is to push that number down as much as possible. david: why do you think dubai is better known in some parts of the world? khaldoon: we have a radius around us, india, egypt, countries with immense history. we are new into this market. we don't have a

dubai being one of the most famous. the federation was formed in 1971. the father of the nation passed away several years ago, but he was the founder and he established the federation. we have a population of 10 million overall. we have a wealth of resources, particularly in the oil and gas field. that has been the foundation of the economic development. the oil and the gas is not going to be here for the next thousand years. it is finite, and we have to prepare ourselves for the future. the leadership of this country has focused on maximizing the benefits and returns from this resource, but at the same time built a diverse vocation strategy, preparing ourselves for the future. that's what you have in the uae today. david: your economy now is dependent on oil. if it 50% of your economy, 70%, 80%? khaldoon: so, many years ago, oil represented about 70% to 80% of the gdp of the country. we have been able to move the economy where that concentration is now less than 35%. now, we are still a long way away, and i think the focus now is to continue to push tha

spectacular did he mies to dubai's reputation. julia: here is tracy on the demise of his firm.nated in these situations how these kem can convince others to trust them when it's all just a front. what was his special? >> the jury is still out what went wrong but we are getting hints from the joint liquidateors who are nominated o wind down the company. joe: what have we learned about the unusual nature? >> it's useful to get a bit of background. biggest equity firm in the middle east. wasn't just important in the middle east. it was also a big dealing for emerging markets globely. this was a blue chip emerging market play. say you wanted emerging market expose sure, you went to them because of due diligence and corporate governance. it turns out that the company itself was not a shining beacon of corporate governance. >> this is not how it should be done. >> highly unusual for a private equity firm. maybe they will have some degree of leverage but the idea they were borrowing money to fund day-to-day operational costs is extremely concerning and speaks to that to cultivate home

in full of places dubai with fifty nine point six million posts in the largest city of the united arab emirates even the moon seems to shine brighter desert shores are especially popular. in third place paris beautiful people fantastic food and plenty of flair seventy five million photos and videos can attest to that even the flurries of snow are enchanting in the city of love. at number two new york city with eighty eight point five million posts next to sky lines the most popular images are of wacky new yorkers and their pants no wonder the big apple is so ensuring lead popular. truck to only buy this weeks when our london eighty eight point eight million post proves there's plenty of sites to see here and a peek at the royal family is the icing on the cake. the fifth ranking and now. virtual reality in medicine three d. images of the human body rendered from computer tomography data the swiss technology is also useful for educational purposes. if the tool dissection at the university of basel here aspiring doctors can learn all about human anatomy with the headsets. meanwhile their

"bloomberg daybreak: europe," just on 6:00 in london, 9:00 in dubai. lots to talk about on the u.k. political front. we need to focus on the broader market picture. it is positive. when you consider the flurry of trade news we saw on writing. we have the asian equity markets up 1.2%. continuing that rally that was put in place in friday's session during an it seems that market want to focus on earnings news rather than the possible implications of a broadening trade war. the yuan going a little higher. dollar weakness one feature of today's session. this is your haven of choice, then it seems that the market is not focused on those trade troubles. mentioned the jobs report. this is reducing pressure on emerging markets. against the up 0.1% dollar. it had a rally on friday. some of that has been undone a little bit by the news that david davis has resigned, taking at least one minister with him. we will see what further implications that has. she plans to nominate a new brexit secretary. manus: david davis of course is one of the linchpins in that negotiation team. this is cable and

manus:i am manus cranny live from dubai. trade minister tells bloomberg the u.s. will feel the pain and a trade war. trumps economic adviser blames beijing for holding back. will tariffs hurt the bottom line? alcoa cuts its 2018 forecast million in levees. will other executives be worried about trade as earnings season kicks into high gear? we will be speaking exclusively with of the unilever ceo. manus: a very warm welcome to "daybreak europe." we are waiting for a number of different companies to come in with their results. let's get straight to anna. anna: let's do that. i have numbers coming through. the nordic region's largest bank. they are talking about signs of improving momentum across various businesses this morning. also talking about the ct one ratio. 19.9%. interest income, 1.70 billion. improving momentum against households.d this is interesting because we heard similar positive comments from others and the scandinavia week.g sector this this is a business focused on revamping its operations and repairing and investing in the digital age. we talked t

we'll talk about dubai, mumbai, orthe place is taking business from the city.big issue for brexit. the city is about 10% of the uk gdp - brexit. the city is about 10% of the uk gdp — collect billions in taxes for our hospitals and so forth. and if we lose yet more business from the city, it is another nail in the cough and for this country's economy. in the meantime, other cities in the uk are emerging as a real hub, maybe a checkup. this is something he had the silicon valley giants are taking their hunter cambridge. it looks like this is becoming a centre for things like artificial intelligence research. it is interesting how there is a rivalry between kent ridge and 0xford on this issue as well. lots of companies are choosing to have the bases in cambridge.” of companies are choosing to have the bases in cambridge. i think amazon, microsoft, apple, they are setting up their businesses there. but when i was at cambridge, and sofa mention that, but when us at cambridge as a student studying, there was the milk run, the big banks, common saxon morgan stanley, a

these are the scorched fairways not of dubai but of dundee.where the ball can keep rolling and not always way you want it. jordan spieth arrived as defending champion but opening round showed why it stayed out the traps. as he folded, another american made the charge to the front. kevin kisner‘s made in south carolina and used to taking on the desert. 11 years ago, rory mcilroy came to carnoustie as an amateur. today, he looks very different on the course. he has not at all the breaks today but is one to keep an eye on. the english charge is led by southgate, he is in touch with the lead but with the british lions to prevail, they need to take on the tiger, tiger woods is fit again and back to win majors. early birdies looking ominous for the rest of the field but for some, these conditions will make the open a dream, ora nightmare. joe lynskey, bbc news. this the leaderboard then — kisner on top, after his round of 66 — 4 birdies and i eagle helping him along. rory mcilroy, well he played aggressive golf with the driver today — he's tied for

seems kind of a dubai thing to do hadley >> hey, good morning so a billion dollar development betweenhe government of abu dhabi and warner brothers are hoping to bring in the tourists, but there are questions on if that will happen i'm here at this park all day today. it's the opening day 1.65 million qusquare feet. all your favorite characters from gotham city wonder woman a lot of excitement and also questions about whether or not they're going to face stiff competition from dubai just down the road ch they have lego land and img. this isn't the first time that hollywood has collaborated with these gold pair of coup tris even in saudi arabia this year collaborated with amc to grow the entertainment sector, but i had the chance to catch up with the chairman of warner brothers. >> the deal closed it's being appealed. we're working through the appeal process, but it's business as usual. we're working for exactly kind of as doing things like this this happened after the merger closed but the partnership again, it's with us. we're part of a bigger company now. >> the chairman saying this

in dubai nowving and the rent is killing me. from wallt got an a street.d-quarter earnings drew praise from wall street. that's not going to be the end of the road, is it? >> it was a great set of earnings. the other thing to note, the reason why the earnings were so good was also on the gross margin front were google has been able to play -- to pay less away. on the regulatory front, i think google has gotten away with it. the e.u. has failed to impose the one remedy that could actually make a difference, to force into unbundle google play from all the other services. is going to make sure the google services are on the front and center and set by default, which really means not much is going to change. manus: let's see where facebook delivers tonight. the santander cfa joins me for an exclusive interview. and the restructuring cases still not universally on target. global transaction bank appears to have turned a corner. there's good reason to go into the second half with heads held high and that leverage reduction has cost us some of the revenue, as we

good morning from dubai.manus cranny and this is "bloomberg daybreak: europe." .nna: and i am anna edwards these of the top stories. manus: stocks and commodities show relief. brent has its worst selloff in two years. divisions in brussels, president trump expected to put pressure on nato allies today. move, murdoch, comcast raises its bid for sky. a very warm welcome to "bloomberg daybreak: europe." we have this moment of reprieve in the markets. set for a slightly higher opening on the ftse 100. dpi in germany, breaking news on the inflation spectrum. seeing inflation numbers pretty much in line with what the market had expected. 2.1% year on year. let me break them down a little bit more. the preliminary estimate was for 2.1%. euro-dollar 0.35% on the year. these numbers are stoic for mario draghi. a number of factors are driving the market. u.s.-chinanting that might have talks on paris. this is a move away from yesterday if you think of the ways and means committee. closer, the worst year,december of las

of islamic art but there isn't that much going on and if you think about british tourists who go to dubai they get the full treatment in terms of all of the available tourist sites i'm not sure that there was the same as the same capability that's going to be a real issue and the alcohol is rob mentioned that's another issue and one can't imagine a world cup without gallons and gallons of beer being consumed by by fans particularly it is a english fans so yeah there are i think they're going to be big challenges on that front i think it's going to be a challenge to in terms of the football because if you think about it they're playing in in november and december that's going to really interrupt the a professional leagues the premier league for example a lot of players went went to russia from the premier league and i'm not sure that fans here are going to be that tickled about seeing their teams and their seasons disrupted by by this solution to the issue of the heat in the summer movie get into into november and december but would have made a difference do you think if they had made a jo

aljazeera is owned by the qatari government, while al arabiya, though based in dubai, is saudi owned.ition to restoring relations was that the qataris should close down aljazeera, which they believe to be biased, butjust how fair was the news coverage by both sides of the gulf crisis? and was it legitimate coverage or was it propaganda? we asked dina matar, an expert on arab media, to examine footage broadcast by both sides on the same day. translation: watching these clips, the issue of fake news raises its head. on one of them, the al arabiya one, you see that there's a crisis. in the video you see that there are people queueing up to buy basic supplies. the other video shows a different situation. they are conducting interviews with lots of people sitting in the souq, smoking shisha, saying everything is normal, there's no problem. even the officials are saying that there's no problem. it shows that supermarkets and malls are functioning normally. so who do we believe? who do we believe? al arabiya declined to speak to us. in a written statement to the bbc, they said... aljazeera j

this is bloomberg. ♪ manus: good morning from dubai. i am manus cranny. am anna edwards in the city of london. these are today's top stories. manus: russia outrage. donald trump sparks fury as u.s. after maintaining relations are on the right track. brexit turmoil. theresa may escapes defeat. a 10th member of her government has reportedly resigned. netflix miss. shares plummet after unexpected subscriber growth and the streaming service proved it is not a bubble investment. ♪ a very warm welcome to "daybreak europe." we are waiting to see the numbers drop across your number terminal. 27 carhis is the eu registrations, 5.27% but in the somethingk. it is during the first half as european command grows. german luxury carmakers fall on customers waiting for new models. let me break this down. the u.k. down 6.3% extending last year's slide. overall car registrations across europe rose by 2.8% in the six months through to june. that is on the pan-european side. separately are the luxury car models, they are struggling as june.made a return in this is what we go

since june two thousand and seventeen nowhere crafter been flying from doha to dubai or abu dhabi airspace is closed. six muslim countries have broken off diplomatic relations with counter be accused of financing terrorist groups and supporting iran rejects that the crisis has led to carter's isolation saudi arabia closed the border cutting off qatar from the rest of the arabian peninsula the conflict was triggered by an internet posting claiming that qatar admitted positive statements about shiite iran. that messages sent to have been posted from the united arab emirates now there is a sense of crisis in the gulf. including in our dobie. a new cultural district is planned for the artificial island of sadat. the island of happiness it will be comparable to education city in doha but with a commercial background three large museums as well as galleries and universities are planned. for the new foot by french starker tech chanu bed it was the first to open a masterpiece as grand as the m.i.a. in. a cathedral for art. he could hardly be any bigger or more spectacular. only one of the componen

newsreel: five times a week, there is a scheduled service from bandar abbas across the strait to dubair another target to come at them, and the aircraft takes off. and i believe that one of the lieutenants, i went up and asked them, "what we are doing", he said, "you're going to see some missile action." i went to the operation specialist who was watching the scope and he's watching the missiles because he can track it on the radar and he sees it hit the target. dead on! but they found out, like 15, 20 minutes later that there was an airliner missing. an iranian airbus is presumed crashed, please look for survivors or aircraft wreckage... and so that was when it was like, "what?" "airliner missing?" "we didn't shoot an airliner, we shot a tomcat," i thought. there was a lot of soul—searching, disbelief, that's not supposed to happen, that's not what we were here to do. two hundred and ninety civilians passed away on flight 655, and of those 290, 66 were children. felt so bad for the families that lost their loved ones and sometimes you're part of history and you love it and sometimes y

this is bloomberg. ♪ >> good morning from dubai.om bloomberg's european headquarters, these are today's top stories. one.f: sinking you -- yuan. china's currency falls. stocks and bonds rates climb. google parent rises following a monster quarter, shaking off europe's $5 billion fine on the company. , switzerland's largest bank reports income well above estimate. from sergio ermotti throughout the day. let's get you straight into what's happening in markets when it comes to the futures picture, because we are getting the positive seed from the asian equity section. a couple of things to look out for. european banks, wealth managers , a very strongts third-quarter guidance. nejra: financials outperformed in the u.s. as well, pushing the s&p 500 higher. we see those gains in the asia-pacific index. materials are outperforming and chinese equities as well. efforts from chinese authorities to support the economy, impacting bond yields and the ui and -- yuan, blowing past that 6.8 level. i've got the 10 year treasury up because we saw yi

five times a week there is a scheduled air service from bandar abbas across the strait to dubai. takes off. and i believe one of the lieutenants, i went up and asked him, what are we doing? he said, you're going to see some missile action. and i went to the operations specialist who was watching the scope and he was watching the missile, because you can track them off the radar, and he sees it hit a target. but they found out like 15 or 20 minutes later that it was an airliner. radio: an iranian airbus is presumed crashed. please look for survivors or aircraft wreckage. so that's when it was like, what? airliner missing? we didn't shoot an airliner. we shot a tomcat, i thought. there was a lot of soul—searching. disbelief. that's not supposed to happen, that's not what we were here to do. 290 civilians passed away on flight 655, and of those 290, 66 were children. felt so bad for the families that lost their loved ones. and sometimes you're part of history and you love it and sometimes you're part of history and you hate it. this was just one of those things where you just wish i

and of course all these people hard workers and of course he work it out saudi arabia in jeddah in dubai qatar you know that's country soul is playing football and you know it's not important just to be the fight that's been some rumors coming talked a lot that he will be next quote i said we don't have the money we can pray but we don't have money but we want the one croatian guy to have success and after much. aimed at munich he played he's played for the national team he's been coaching defensive on you know the best chance on the pentagon late that we give him the chance to brazil and he success coach does the job after prime minister president of croatia is the best dropping creation it must have been a risk though this point to do what you did sack the manager bring in another you needed a result he got it i mean fantastic to know victory in ukraine then he still had the playoffs he defeated greece and he was four one over two matches at this point what are your expectations coming into the world cup because he was didn't make it . look it's my small country of from twelve possible

dubai. —— goodbye. this is the business briefing. i‘m ben bland.more than 50 products. we‘ll assess the impact on individuals and the government‘s finances. and on the markets, asian shares dipped on fears of more protectionist measures from the united states, and the dollar fell against major currencies after president trump criticised the federal reserve‘s raising of interest rates.

has paidal management $350 million to buy a dubai firm.trying to beat up three other bids for the liquidators. peter teal is thinking about investing is chinese startups. he is creating a funder partnership. he is a paypal cofounder. that is your latest business flash. caroline: let's have a quick look at once coming up on the european close. we are following stocks in less than 35 minutes. this is bloomberg. ♪ . >> 11:00 a.m. in new york and 11:00 p.m. in hong kong. 30 minutes left in the trading day in europe. i am caroline hyde. vonnie: i am vonnie quinn. this is the european close on bloomberg markets. caroline: here are the top stories we are covering. we begin with a bloomberg exclusive. withn franklin joins us news on his latest deal and the bidding war from sky, who will make the next move? we talk with the ceo of one of the largest banks in poland on the drive to consolidate. in on how the european markets have been performing. 30 minutes left until close and we are heading off of those -- still down 1/10 of 1%. talking earlier ab

dubai's worst-performing stock of 2018 falls even furthe

passengers on qantas, tried to get to sydney, that has been delayed till tomorrow and british airways to dubai found naa'imur thejury has found naa'imur rahman guilty of preparing a terrorist action. two leaders of the neo—nazi group, national action, have been sentenced to a total of 1a years in prison for continuing to be members after it was banned as a terrorist organisation in 2016. the judge also noted that they had done nothing to discourage a plan by a fellow neo—nazi to kill an mp. our home affairs correspondent daniel sandford reports. when the time comes, they'll be in the chambers. jack renshaw, the neo—nazi who plotted to kill his mp, speaking in blackpool in 2016. you can call me a nazi, you can call me fascist, that is what i am. well done! so am i! he was a member of national action, which was banned last year as a terrorist organisation after celebrating the killing of the labour mpjo cox. but some of its members went underground, doing fight training at this improvised gym and meeting most weeks at this pub in warrington, where lastjuly, jack renshaw made an announcement. sit

of islamic art but there isn't that much going on and if you think about british tourists who go to dubai they get the full treatment in terms of all of the available tourist sites i'm not sure that the law is the same as the same capability that that's going to be a real issue and the alcohol is rob mentioned that's another issue one can't imagine a world cup without gallons and gallons of beer being consumed by by fans particularly it is a english fans so yeah there are i think they're going to be big challenges on that front i think it's going to be a challenge to in terms of the football because if you think about it they're playing in in november and december that's going to really interrupt the a professional leagues the premier league for example a lot of players went went to russia from the premier league and i'm not sure that fans here are going to be that tickled about seeing their teams and their season disrupted by by this solution to the issue of the heat in the summer movie get into into november and december but would have made a difference do you think if they had made a j

emirates especially if a lot of this money and we know according to a lot of independent reports that dubai has been a hub for money laundering and so forth we want to be friendly with all that and in the world we do want to be involved here they're complete yes they may be scandals or whatever but that's not going to affect a world relationship country to country but because of that country's involved in funneling money that is public resources essentially helping somebody steal your money and we had to find evidence of that. and if you do find evidence wasn't there a fairly even when the rebels will listen the no seeing that this is the proper things to do in all that i mean we don't go to war nobody was thinking about war but i mean in terms of mother normal number. in diplomatic relation is that these protests and things like that maybe we'll do that coming back to the issue of energy been the corruption case against him. could you foresee that he would be sentenced to death within some of these presented can you can you foresee that somebody like him will be put behind bars and would.

emirates especially if a lot of this money and we know according to a lot of independent reports that dubai has been a hub for money laundering and so forth we want to be friendly with all that and in the world we do want to be involved here they're complete yes they may be scandals or whatever but that's not going to take a little relationship country to country but out of that country's involved in funneling money that is public resources essentially helping somebody steal your money we had to find evidence of that. and if you do find evidence wasn't there a fairly even when the rebels will listen the no seeing that this is the proper thing to do in all that i mean we don't go to war nobody was thinking about war but i mean in terms of mother normal number is in diplomatic relation is that. protests and things like that maybe we'll do that coming back to the issue of najib in the corruption case against him. could you foresee that he would be sentenced to death within some leaders presented can you can you foresee that somebody like him will be put behind bars and would. what kind of mess

of islamic art but there isn't that much going on and if you think about british tourists who go to dubai they get the full treatment in terms of all of the available tourist sites i'm not sure that the law is the same as the same capability that that's going to be a real issue and the alcohol as rob mentioned that's another issue one can't imagine a world cup without gallons and gallons of beer being consumed by by fans particularly it is a english fans so yeah there are i think they're going to be big challenges on that front i think it's going to be a challenge to in terms of the football because if you think about it they're playing in in november and december that's going to really interrupt the a professional leagues the premier league for example a lot of players went went to russia from the premier league and i'm not sure that fans here are going to be that tickled about seeing their teams and their season disrupted by by this solution to the issue of the heat in the summer moving it into into november and december but would have made a difference do you think if they'd made a joi

, it could take a majority sta ke, careem, it could take a majority stake, a firm that is based in dubai. your're watching business live, our top story: as the uk government prepares to unveil its latest proposal in a future customs deal, businesses overwhelming say they want a frictionless border. we will hopefully get some detail about that, this talk of a third way. now, if you've got kids, you'll know thatjust dressing them is an expensive business. they grow out of their new clothes almost as soon as you've bought them. it's little wonder, then, that the global childrenswear market was worth a staggering $203 billion in 2016. but many established clothing retailers are suffering from the shift from bricks and mortar to online. internet sales now account for 24% of uk fashion spending. as in other parts of europe, that's made it harderfor high street stores to compete because of their higher costs. in the uk, that helped the high streets record a net loss of more than 1,700 stores last year. frances bishop is founder of the pud store. and i am told she's a real evangelist when it com