e.m. or dm? jim: not the united states. oksana: do i really have to? jonathan: indulge me. na: i will go with the e.m.. trying to ask americans about football. jim keenan, krishna memani, oksana aronov. i'm not doing that again. trying to ask americans aboutsee you next fri. this was "bloomberg real yield." this is bloomberg tv. ♪ >> i'm mark crumpton with first word news. paul manafort's request to dismiss a money-laundering charge has been rejected by a federal judge in washington. manafort is also charged with conspiracy, making false statements, obstruction of justice, and failing to register as an agent of ukraine. his bail was revoked last week and after prosecutors claimed he tried to tamper with witnesses. his trial is scheduled for july 25 in virginia and september 17 in washington. diplomats say israel is following the lead of the u.s. in pulling back from the u.n. human rights council. israel has not completely withdrawn from the body but has her or they reduced its participation. the country has had a tense relationship with the council, accusing it of unfair bia

e.m. or dm? jim: not the united states. oksana: do i really have to? jonathan: indulge me. will go with the e.m.. krishna: e.m. jonathan: trying to ask americans about football. jim keenan, krishna memani, oksana aronov. i'm not doing that again. that does it for us from new york. we will see you next friday at 1:00 p.m. new york time. this was "bloomberg real yield." this is bloomberg tv. ♪ two, down, back up! our phones are more than just phones. they're pocket-sized personal trainers. last minute gift finders. [phone voice] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money. click, call, or visit a store today. ♪ manus: you're watching "best of bloomberg daybreak: middle east." the major stories driving the headlines from the region this week. opec on a knife edge, speculation about output cuts swirled as ministers gathered for the crucial meeting in vienna. welcome to the club. saudi

e.m. or dm? jim: not the united states. oksana: do i really have to? jonathan: indulge me. na: i will go with e.m. krishna: e.m. jonathan: trying to ask americans about football. jim keenan, krishna memani, oksana aronov. i'm not doing that again. that does it for us from new york. we will see you next friday at 1:00 p.m. new york time. 6:00 p.m. in london. this was "bloomberg real yield." this is bloomberg tv. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. alix: this upcoming program was recorded earlier this week. we hope you enjoy the show. opec debates how much output should increase, it is russia versus iran the saudi's in the middle. trade battles dragged down caterpillar, one of the best-performing stocks over the last two years. and pow

e.m. or dm? [laughter] jim: not the united states. oksana: do i really have to? indulge me. oksana: i will go with e.m. jonathan: there you go. krishna? krishna: i will go with e.m. jonathan: trying to ask americans about football. jim keenan, krishna memani, oksana aronov. i'm not doing that again. that does it for us from new york. we will see you next friday at 1:00 p.m. new york time. 6:00 p.m. in london. this was "bloomberg real yield." this is bloomberg tv. ♪ alix: this upcoming program was recorded earlier this week. we hope you enjoy the show. opec debates how much output should increase, it is russia versus iran the saudi's in the middle. trade battles dragged down caterpillar, one of the best-performing stocks over the last two years. and power ahead. over $8 trillion will be invested in wind and solar in the next 30 years, the latest report outlines the rapid rise of alternative energy. ♪

e.m. or dm? [laughter] jim: not the united states. oksana: do i really have to? indulge me. oksana: i will go with e.m. jonathan: there you go. krishna? krishna: i will go with e.m. jonathan: trying to ask americans about football. jim keenan, krishna memani, oksana aronov. i'm not doing that again. that does it for us from new york. we will see you next friday at 1:00 p.m. new york time. 6:00 p.m. in london. this was "bloomberg real yield." this is bloomberg tv. ♪ jason: welcome to bloomberg businessweek. i am jason kelly at bloomberg headquarters in new york. a big show for you this week. we start in london where we explore that city's future as a financial hub given the backdrop of brexit. we go to south carolina where we talk to the although ceo about the new plant there. what it means for that state's economy and for volvo's chinese owner. we start with the big story of

e.m. during that -- dm during that period of growth driven rate rises. we think the bank drop over the over the next 12 to 18 or months remains very positive. valuations are attractive. internal and external balances have improved. global growth is picking up. the em growth premium is widening. that environment is attractive. >> 17.75. that is a 125 basis point rate hike for the turkish central bank. we want to take a look at the immediate reaction, it is a stronger lira. in the intraday you can see that dropping like a stone for the dollar as the turkish lira balance is higher. the question going forward for the rest of the session is will this be enough? well this last? we have seen central banks hike rates, but then at the same time it does not sustain. >> especially true in turkey. as david pointed out, how erdogan reacts to this will be key to the market being able to sustain this lira bounce. a week ago in a campaign speech, he sounded like he believes in the independence of the central bank. >> it is not just turkey we are dealing with. we saw argentina and turkey and brazil. take a look at what is happe