the extra costs will be borne by edf and the french firm's chinese business partner.s is to close another 70 argos shops, and move them inside its supermarkets. it will also close up to 15 supermarkets and a0 convenience stores. the company says the closures are part of a plan to reduce costs by £500 million over five years. sainsbury‘s is also planning to open around 120 new grocery outlets, mostly convenience stores. the duke and duchess of sussex have introduced their baby son archie to the one of the leading figures in the fight against apartheid in south africa, the veteran archbishop desmond tutu. the couple are on a 10—day tour of africa. and it's the first time the four—month—old has been clearly seen in public. our royal correspondent nicholas witchell was there. he's four months and 19 days old now, and little has been seen of archie harrison mountbatten—windsor since his birth on the 6th of may. but here he was in cape town today with his mother and father, to meet one of cape town's most celebrated citizens, archbishop desmond tutu and his daughter, thande

the extra costs will be borne by edf and the french firm's chinese business partner.s supermarkets. it will also close up to 15 supermarkets and a0 convenience stores. the company says the closures are part of a plan to reduce costs by £500 million over five years. sainsbury‘s is also planning to open around 120 new grocery outlets — mostly convenience stores. the transport secretary, grant shapps, has said the government will look at whether bonuses paid to thomas cook executives can be recovered through the insolvency process. there has been growing anger at the tens of millions of pounds paid to executives before the travel operator's collapse. a huge operation is currently repatriating 150,000 british travellers. our transport correspondent tom burridge has been hearing from a former thomas cook staff member. my my name is betty knight. i was cabin crew for thomas cook airlines for 12 yea rs. crew for thomas cook airlines for 12 years. our management seemed to have disappeared off into the sunset with millions and millions of pounds will stop and while all of our

we are looking at french power company edf. shares falling for a third day. nuclear power station are not words you want to find in the same sentence. emma: you are absolutely right. those shares are headed toward the worst day since 2017. this, as you say, is after the company said some of its nuclear reactors may contain some substandard components. that obviously sent shares falling. dominates power production in france, and the country is the most dependent on nuclear power than any other country. its is the top 10, topping by almost one to present. you would have to get -- by almost 20%. if we switch up the board, you can see energy prices still skyrocketed on the news in anticipation of some shutdowns. we saw french power contracts post record gains. also, u.k. gas for next winter. that searched the most since 2013. since 2013. it's not in a good year for edf anyway. look at the share price, following some 38%. that is the stock of the hour. guy: thanks very much indeed. bloomberg's emma chandra. vonnie: time for futures and focus. -- for futures in foc

pull spence from edf speaking earlier.ing they have been driving home, that the customers are not going to be footing that bill. investors and shareholders are not impressed by edf‘s. .. investors and shareholders are not impressed by edf's... by what has happened here. the share price has dropped over 6% today as investors reacted to the news today that it will overrun. this is several years and also several billion pounds more than what was expected. enough is enough as far as the investors are concerned, and shareholders are selling out now. there is the impeachment enquiry in the us and the uncertainty around brexit in the uk can we have seen the oil price full, can we put that down to fears of global recession and a trade impact really gripping investors once more? that's definitely something we need to think about. the demand for oil, there are concerns about future demand for oil and that it will be lower. what we have seen today, we have seen the inventory data coming out, which showed there is a 2.5 million barrel

builders edf argue it's the perfect back—up when the wind doesn't blow.. it's low carbon, it's safe and it can be made affordable, and if we are really, really serious about taking carbon out of the way we make electricity, then we need nuclear. and we're going to need a lot of electricity if we're going to replace petrol and diesel engines. it seems very odd looking under the bonnet and seeing nothing, really. you get used to it! nearby dealer in second hand electric vehicles andy farmer says business is brisk. the change has been huge. it's gone from being more of a niche thing to now anyone's buying an electric car. for the school run, if two or three people get an ev, everyone starts to go, "wait, i could do that, i could live with an ev". despite a fivefold increase in sales over the last year, evs make up less than 1% of vehicles on the road and there's an even tougher, more expensive and less exciting challenge. so, here it is, good old —fashioned gas boiler. we all recognise that, there are 2a million of them around the uk and that is a big proble

what is the story on edf? dani: the french electricity company has issued a cost warning.ost on the high-end of the range could be as much as 22.5 billion pounds. that is an eightfold increase. matt: thanks very much for joining us. you can get all the stocks to watch in your bloomberg. ♪ matt: we are in minute away from the open of cash equities trading. let's go to annmarie hordern in london. annmarie: we are seeing some weakness across shea's a -- across asia. if it of a mixed picture. slammingresident trump beijing trade practices. bloomberg news has a scoop china is planning to buy more american pork. that would be optimistic for the trade war. futures are barely pricing that in. oil to the downside. we see an expansion possibly. aramco starting to rebuild. a big day for u.k. out on the green. here are futures ahead of the open. futures down to the green. is looking like it is going to be a down day in the city of london. it has just gone 8:00, let's get your market open. we saw the european futures, they were pricing into the downside. there was a lot of political ri

edf to the upside, up more than 2%.out these deviations in six nuclear reactors. news, --e tbad seems like bad news, but not as ere expecting. matt: let's get into a u.s. stock that can have some real implications. fedex slumped in overnight trading after cutting its profit forecast for 2020. the ceo specifically cited the trade war and the slowing economy. alan higgins is still with us. we have seen a number of stocks in the u.s. from deere, to caterpillar, big manufacturers, now to fedex talking about cutting back on its airplane fleet, hit hard from the trade war. is this going to start really affecting the company -- really affecting the real economy? alan: so far, limited. yesterday, we sought consumption retail sales in the u.s. robust. it is limited to the manufacturing sector but the manufacturing sector is in deep slow down. you may even call it recession, as evidenced by fedex results. , just ait is limited manufacturing slow down very serious for companies directly involved. it has not filtered through. i gue

obviously us and our partners, we have a strategic partnership ,ith energy to france, edf which one alongsidefirst and largest onshore wind farm in we are working closely with them to hopefully try to get a piece of that. manus: i always like it when we have a ceo that has her sponsor belly for something in the united kingdom. i want to get -- has response would like the ok i to get your opinion on and offshore wind farm. we are looking at daily changes on biscuit -- on brexit. what is the risk if we go for a hard brexit, what have you put into place to ship your power into europe? what is the risk? like you said, the united kingdom as a strategic market for us from day one. still is. we have invested north of a billion sterling in the offshore wind portfolio within the u.k.. we are actually working on expanding that portfolio as we speak. by theyou're not put off political landscape changing? obviously has a short-term impact. you have seen it on the exchange or on the pound. but at the end of the day we are strategic long-term investors. manus: say putting a billion dollars work that gets i

edf also to the down, plunging down 6.5%.ated the cost is going to have to rise, the nuclear reactors yielding in the u.k., and this is rising by as much as 2.9 billion pounds, and they have a higher risk of a delay. shares of eda just tumbled today. nejra: annmarie hordern, thank you. speaker massive pelosi announced impeachment proceedings against president trump, as he puts on pressure on the government of ukraine to put pressure on joe biden. speaker below see: discernible -- losi: discernible betrayal of our constitution, our security, and our constitution. therefore, i am asking the house of representatives to move forward with an official impeachment inquiry. thea: these actions raise possibility that trump could become the fourth president in american history to face impeachment proceedings. trump denies wrongdoing and says he will release transcripts of his phone call with ukrainian leader today. us as kathleen hunter. great to have you with us. what should we look for in the transcript of the july 25 call, when it i

annmarie: let's kick off with edf. up more than 3.5%.mes as they said they found any factoring defaults in six of nuclear reactors, but it is better than what was expected. that's why the stock is rising this morning. montclair is to the downside -- moncler is to the downside. they could have sales trending downward of this year due to the hong kong protests. this said it would have been a good year if it was not for hong kong. deutsche's posts also to the downside coming down nearly 2%. seeing is across the entire logistics space and comes after fedex sharply cut their profit outlook. aftermarket trading plummeted, that's where we were at the head of the new york open, down nearly 11%. they are pointing to a slower global economy and pointing the finger at the trade war. francine: thank you so much. in the meantime, we are getting breaking news out of the u.k. as the august inflation rate falls. it's something mark carney will have to deal with. they have a gdp a little better than expected. expected is lower than but the concern is wha

builders edf argue it's the perfect back—up when the wind doesn't blow.ho are furious about climate change really need to rethink nuclear. it's low carbon, it's safe and it can be made affordable, and if we are really, really serious about taking carbon out of the way we make electricity, then we need nuclear. and we're going to need a lot of electricity if we're going to replace petrol and diesel engines. it seems very odd looking under the bonnet and seeing nothing, really. you get used to it! nearby dealer in second hand electric vehicles andy farmer says business is brisk. the change has been huge. it's gone from being more of a niche thing to now anyone‘s buying an electric car. for the school run, if two or three people get an ev, everyone starts to go, "wait, i could do that, i could live with an ev". despite a fivefold increase in sales over the last year, evs make up less than 1% of vehicles on the road and there's an even tougher, more expensive and less exciting challenge. so, here it is, good old —fashioned gas boiler. we all recognise that, t